Section 1.5 of the offer doc says they will subscribe for any new shares not subscribed for by eligible retail shareholders under the retail entitlement offer. Their fees are cash based as per 9.4.3
If there was sufficient interest to make scaleback needed then why do they receive 10%+ of the shares available under the retail offer?.
A puzzling way to deal with retail holders. I'm not affected as i have got what i could afford, it just doesn't feel right.
rights issue, page-12
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