Shane
"Renounced entitlements will be sold via institutional and retail bookbuilds, with any proceeds from such sale in excess of the Offer Price to be returned to renouncing shareholders (less any applicable deductions)."
My reading is that you either take up your right, or renounce your right and wait to see how much if any is raised through the bookbuild and then how much will be paid out per each renounced right.
entitlements offer, page-3
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