If that is the case then they should have announced that in the letter - It is misleading but nowhere did they say that they were not giving you everything you applied for. They do use the words " accepted applications" - does that mean they decided on a case by case basis. I always believe its shareholders first and then the underwriter. Doesn't always get dealt with that way but why not give it too an existing shareholder.
I would be unhappy if I applied for more and didn't get my full allocation.
PGC Price at posting:
60.0¢ Sentiment: None Disclosure: Held
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