"I do feel your position, however the flipside of this is that...

"I do feel your position, however the flipside of this is that the managers of the company are trying to do what's best for the company which is inevitably what's best for the shareholders. SPP's can be an extracted process."

Value accrued to some third-party entities at your and my expense, as well as hundreds of other shareholders. How is that possibly the best for all shareholders?

And so what if SPPs take time? This is not an emergency capital raising.

As for ATP, who cares what happened to other companies? Maybe that one was badly handled? Maybe the stock was overvalued to begin with? ATP is of no relevance to me.
I am a shareholder in THIS company.

Besides, I can list hundreds of SPPs which were successful... the overwhelming majority of them, in fact!