I think the original poster was implying that if the underwriters did not have confidence in this deal they could have bid the SP up above the offer of 2.70 and incentivising retail to take up their entitlement instead of buying for cheaper on market as many have.
Allowing the underwriters to take up the retail shortfall and have a proportionally greater stake.
No where was it said the underwriters had a 'choice'.
No need to knee-jerk and assume ignorance, it may not be the most elegant way to word it but the central point trying to be made is a valid one.
Ann: Completion of Retail Entitlement Offer, page-10
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