SPP, page-15

They can do whatever they like.
The vast majority of capital raisings are pro rata but as a small holder I have oversubscribed and been allocated in some SPPs.
Scaled back to a cap, scaled as a % of monies issued, scaled back pro rata or another way who can say.
The fairest way in my view is a renounceable rights issue where all holders get to participate, the directors sold us all down the river by allocating such a large amount to institutions.
Who two weeks later are looking at a 40% paper gain which just looks like handouts for the boys.
Having said that the takeover may have evaporated anyway and then we are back to AWE the unloved.
I understand how someone with 2000 shares would consider allocating 2000 shares regardless of holding to be fair, they dramatically increase their stake while mine is diluted by 20% or so.
Good on you for holding long term Basileus, I am a johnny come lately - long term is the way foward but I like to buy when sentiment is very negative toward a stock.
Making the price very low.
I don't think the directors are going to say sorry or reward people for supporting the business through years of value destruction.
Y'all should have taken matters into your own hands and rolled the gutless whingers on the board a long time ago - that sort of action gets rewarded.
Patiently supporting the status quo on the other hand, I guess some people prefer to do that