Ann: Undersubscriptions and New Despatch Date for, page-3

re: Ann: Undersubscriptions and New Despatch ... At what point in time did Patersons have the ability to terminate the underwriting? Prospectus summary of the underwriting agreement gives no indication. Given recent events with PSL at NAV they must have water tight placements or subunderwriting to still be there as termination clauses have been met on at least two terms (Index and Price of MDX). If watertight, post issue price could cop a belting as placees would not be happy that PSL did not pull plug/reprice.
Tsang's action disappointing but maybe has to help out mother in law with subunderwriting commitments.