Ann: 2009 First Half Results and Capital Raising , page-18

re: Ann: 2009 First Half Results and Capital ... There is something in the capital raise offer that says BLY has a waiver from the ASX such that shares purchased after the trading halt, but before the offer, do not count towards the holdings at record date.

I'm a little confused as to how they can do that. I think its related to the fact the institutional offer is being conducted today and tomorrow so it makes little sense for there to be extra trading to be eligible for the retail offer?

Anyone with thoughts?