New bidder enters AWE race, page-78

Interestingly, this was in AWE announcement on 16 November 2017;
"Share Purchase Plan Following completion of the Institutional Placement, AWE will also provide the opportunity for eligible Australian and New Zealand shareholders to participate in a non-underwritten SPP. The SPP will be capped at $10 million. Under the SPP, each eligible Australian and New Zealand shareholder who was on AWE's share register as a holder of fully paid ordinary shares in AWE as at 7:00pm (Sydney time) on 14 November 2017 will have the opportunity to subscribe for up to A$15,000 of new AWE shares, subject to scale back, without incurring brokerage or transaction costs."
(my bold)

And this seems to run counter to the information presented in the announcement of 24 November 2017.
That information contains lines such as;

"To the extent that applications received from eligible Shareholders who participate in the SPP total more than $10 million, AWE may, in its absolute discretion, undertake a scale-back to the extent and in the manner it sees fit. If it does, you may be allocated fewer Shares than the parcel of Shares for which you applied, and excess application funds will be returned to you without interest."

In the 24 November documentation terms like "... absolute discretion" and "... if it does"

As far as I see it - they can either have capped and no discretion or discretion and the SPP is not capped. If you take the former then discretion is removed at $10m. And f you take the latter then discretion removes capped.

I hope that makes sense.

I have been known to ramble ... on the odd occasion ...