- we did not stump up for very much cheaper SPP about 12 months...

- we did not stump up for very much cheaper SPP about 12 months ago"

Totally irrelevant.
A lot has changed in the progress and the development of the company since then.


"- the price has run up hugely (25% in 1 month 65% in two months)"

Irrelevant, as there may be many shareholders who still believe the company to be undervalued despite that recent performance. As case in point, I don't read too many comments on these threads about the company being overvalued.


"- there was a tight window for NEA to take advantage of institutions wanting to get their shares before ASX300 inclusion"

Since when is it the mandate of our directors to make life easier for the portfolio construction requirements of institutions? Why don't those institutions who need to get set of ASX100 inclusion simply do what they always have to do, i.e., buy stock on-market?


"- SPPs do take a little extra time and effort and may affect the underwriting price (and cost of this may offset the benefit)"

Not true. The underwriting price is set at the issue price (that's the very definition of the act of "underwriting")


"- getting massive $70M is great"

Sure, but they could have obtained some of that $70m from shareholders who might have been interested and keen to provide capital to their company.


"- few of us who are small holders and who purchased at somewhere between 5c and 50c would want to pay $1.60 (ie 3 to 30 times as much) for more"

Fine, so you wouldn't have been interested in participating, what about others who were?