Not a poker player but... I think all in means you have a really...

Not a poker player but... I think all in means you have a really good hand, calling means you are in with a real chance and a small bet means you need to get lucky. Real confidence from the Chairman would see him take up his full entitlement, he is not even calling with his stated take up intentions (if it applies to direct+indirect shares). And underwriting fees and directors fees etc... reduces the net amount the director ends up losing should it come to that. MM hasn't given up his day job for his other investment/business interest afaik of which ALT is just a part. Second largest shareholder from a early years has not been 'calling' to keep his position for some time now.