In the SPP ann they state
QBE reserves the right (in its absolute discretion) to scale back the maximum participation amount
per shareholder if total demand exceeds A$150 million. QBE in particular may take into account the
size of an applicant's current shareholding in determining the amount (if any) by which to scale back
that applicant.
The first part is relativly standard, the added part to re holdings I think is a bit of a hint.
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