Ann: Opening of $5 million Share Purchase Plan, page-4

And the Offer Document says:

" If Serko receives applications in excess of $5.0 million, it will scale back all applications on a proportionate basis in accordance with the number of Serko Shares held by the Applicant "

which I think means that you will be allocated shares under a scaleback as a proportion of your current holding rather than a proportion of the amount you applied for. It would have been nice if the OD had given an example. Small shareholders could get not many shares and a large refund if they try to build their position by applying for the maximum.

I could be wrong so if someone has better info then would be nice to hear form them.