Thanks for that Bundy.
My understanding (after reading your text) is you can apply for more shares than you hold, but will only receive the extra shares if they are not taken up by existing holders.
So I guess that you are correct, it can be "over subsribed" (in theory).
But in pratice if every shareholder takes up the offer then there will be no further shares issued.
However, if you apply for extra shares and some of the share holders dont take up the offer than you could possibly be issued some of the surplus shares instead of them going to the underwritter.
It will be interesting to see if it's fully taken up, or if the underwritters will have to carry some of the issue?
Cheers.
1 for 1 rights issue at 3.5c, page-6
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