Share Purchase Plans

[macduffy]

From my unreliable memory banks, Aaron, I remember a flood of SPP's by Australian companies when that form of capital raising first became popular. I think that the usual drill was for announcements to be made simultaneously with entitlement to the issue, i.e. those already on the register qualified for the issue. It became popular to hold a small number of shares in companies that might make a SPP!

Edit. Since then, the usual practice has been to raise a big chunk from instos first, with shareholders often getting a smaller slice. Justified by the need for speed!