I am a fairly large shareholder in ALB and bought a lot on market and took up my entitlement. "Entitlement" means what is says. This is your right and not the right to unallocated options that the company may issue in whatever way they see fit. Usually this is for parties that actually add some value/contribution or whatever reason the company deems to be commercially sensible. I do not see any right for me to claim more than my entitlement.
BTW, I have been an ASX investor for over 25 years at pre ipo, ipo, rights, SPP you name it. For example, Brokers will have arbitrary scale backs and there is no uniformity in allocations. It depends on how good a client you are, how loyal you are, do you take large allocations etc... Shortfalls are often like this. Your entitlement is your entitlement. The rest, to me, is a commercial decision and just as I don't query why a company uses a certain contractor or how they are remunerated, this is an allocation made outside of the entitlement process.
Standard practice in almost every offer I have been involved with. As long as you get what you are entitled to the rest is irrelevant. just my experience and I think it is a very fair system for shareholders as your entitlement is all that is in question, not someone else's. just IMO and experience.
ALB Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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