It seems that someone who buys sufficient shares just before entitlement date, collects their new entitlement and sells the shares in both companies is regarded more highly than someone who has held shares for months or years, but only a small quantity.
When Arafura organised a spinoff, they held an SPP once it was clear the number of shares in the spinoff depended on the number of ARU shares held. This seems fair as it allowed small holders (and large holders) to top up.
If GIR announce this 10K restriction, they should announce an SPP prior to entitlement in my opinion. At the moment we rely on information from profittrader, which is not up to GIR's usual standard.
GIR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
