Isn't the CR made as an offer of x number of shares available to...

Isn't the CR made as an offer of x number of shares available to you to buy based on a proportion of shares held? So if you sell all your holdings to raise the cash for the purchase, you won't be offered any shares because you do not hold any shares at the time of the CR.

People or instos who buy at .10c may sell some off for a quick profit ( and there are always people who are trading for quick profits) but I would have thought that the majority of people saw the end game in this as possibly a very valuable long term holding.