The board has explicitly reserved the right to accept oversubscriptions. In the SPP booklet they use pretty soft language: "targeting $30M subject to oversubscriptions".
The initial placement pretty much maxed out the 15% dilution available under listing rule 7.1, but the SPP is not subject to that:
My expectation is that they do not scale back the SPP. They want all the cash they can get.
Even if you disagree with me, I would be careful about bidding for more than you want with the expectation you get scaled.
Ann: Successful $25.5m Institutional Placement, page-91
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