I've subsequently reviewed the offer docs on the ASX website. Shareholders resident outside Australia and New Zealand will not be eligible to participate. The rights are not tradable. Shareholders who are not eligible to participate will have their entitlements sold under an institutional bookbuild and will receive the proceeds (if any).
So the non-residents will get something but likely less than they would have got had the rights been tradable.
Please let me know if your read of the documents is any different.
is it legal to dilute non australian holders?, page-3
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