rights issue may be cancelled, page-5

This is pure speculation for my (and hopefully your) entertainment only....
but what if ECE come to the rescue and take up the shortfall?

Maybe it's the plan

Offer a NRRI to all and sundry at a small discount to VWAP , SP falls like it usually does during a cap raise, everyone panics because "it's not underwritten" and the can "buy cheaper on market" and everyone thinks "the NRRI is going to fail"
Take up of the offer by retail investors is very small leaving a big shortfall but then ECE come riding in like a knight in shining armour and announces they will take up the shortfall.(subject to regulatory approval etc)

SP rebounds and us shareholders breathe a sigh of relief - "thank goodness for ECE" and the Chinese get another big chunk of ARU for 60c/share

Regulators approve the deal because the Aussies had every chance to buy their share but they didn't want them

and everyone lives happily ever after...

Except two years later you are left wondering why the hell you didn't take up those 60c shares