Ann: Entitlement Offer - Extension of Closing Date, page-62

Stupid question for the day. If I:
a) Decide to 'do the right thing by the company' and participate fully in the offer
b) But I don't want to increase my exposure to this company, so I sell the equivalent number of shares (for a loss)

Would the ATO consider this a wash sale?

I assume they wouldn't, as I'm not selling for the purpose of obtaining a tax benefit.

If someone can point me to an example where this question may be answered on the web it would be appreciated. I understand that I may have to do (further) research/talk to my accountant.