I have never been inside a boardroom listening in on...

I have never been inside a boardroom listening in on strategy/decision making considerations so I can only try to analyse it logically. If a holder trying to risk getting in as late as possible then I think electronically transferring on the 18th would be risky because it needs at least 24hrs to clear the transaction. I know that even for myself paying CC account through an account within the same bank takes at least 24hrs to clear.

Looking at the price action today I can only conclude without any proper evidence that Friday was the cut off day and the holders who wanted in were already locked and loaded in the SPP. Who in their right mind would want to buy additional shares at 1.15 when they could buy at current 5cents discount. Factoring free brokerage one could say it is about the SPP buying now depending upon size of investment etc...

Moot point for me but there is no harm trying to understand how SPP mechanics works and why investors would subscribe or just buy on market at discount.

I am short term bearish on Li stocks which has a direct correlation to CLQ because that glowing red hot sector had a massive momentum rise or in short rose too steep in the shortest possible time. Hot money rotation out of it and probably applies to the Cobalt sector? I get crucified for even engaging in objective discussion there