Ann: A$10m SPP Closes Substantially Oversubscribed, page-101

I bet you if "at the Company's complete discretion" they decided to allocate zero shares to the top 20 or top 50 on the grounds that they already have enough shares something would be done very quickly. But if you're a little guy or down on your luck forget it... you don't exist. It's outrageous that something like that isn't spelt out in the prospectus. The catch all discretion clause let's them discriminate against anyone for any reason and you have no recourse. Disgusting.