spp, page-16

Stephen Mayne expressed a similar view. The following is from his (excellent) website at www.maynereport.com

However, the board also claimed they were "delighted with the reaction to the SPP".

The only obvious "reaction" to the 24 September announcement was the buying of thirty odd shares by each of those extra 6000 shareholders on Thursday. The fact that the 25 September announcement refers to Brickworks being "delighted" suggests they will accommodate all the SPP applications, including the extra 8863 trades on Friday.

Based on past market experience, these sorts of reactions to companies which leave the door open with delayed record dates are now entirely predictable, yet Brickworks has not informed the market of its "capital requirements" which is the only criteria to be used in any SPP scale back.

However by not expressing disapproval of the purchases on 24 September and the foreseeable purchases of 25 September, it has led the market to believe that those capital requirements are such that it will satisfy all the SPP applications arising from the purchases on the 24th and 25th of September.

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The SPP is currently in the money to the tune of 14.2% (just over $2,100 for a full take-up of one's $15,000 entitlement). I'm going to keep a close eye on the share price until the last moment and then send in my application along with the 10,000 other hopefuls...