Ann: Completion of Share Purchase Plan, page-26

I think @Gutshotpro has good foresight.
Management having the confidence to scale-back on the oversubscription on a small raise shows great conviction in their strategy and plan.

However, preventing market dilution can be a two way street, especially on a small raise when compared to MC. This could be suggest overvalue which dilution will have potential severe negative impact on price. I am leaning towards them being more confident with the required funds raised and don't want to impact existing holders. I reckon long term holders will see fruitful returns.