Secondary private placements (SPP’s) are mechanism whereby existing shareholders can sell a portion of their holdings in a private company. This contrasts with the primary private placement market where a growing company can sell shares in a placement and the company receives the proceeds from that placement. In the secondary placement it is an existing shareholder that receives the proceeds of the sale. There are many reasons an existing shareholder would want to sell part of his investment and a further explanation of that and other aspects are to be found in our report “Private Placements and Secondary Private Placements” which can be downloaded for free.