One possible reason for shareholders not taking up their full...

One possible reason for shareholders not taking up their full entitlements by selling part of their current holdings could be the unrealised capital gain liability consideration.

By chasing a quick 5 to 10% profit, they might have to foot the tax on their capital gains much earlier. This is especially true for those bought or accumulated millions+ of DEG shares from when the share price was less than 10c.

Now, imaging if you own 2 million shares (with an average cost of $15c), your entitlements would be 251,572, which means you would need to come up $277k in a very short period of time.

You might be lucky to sell some shares at or above $1.21 for a quick 10% profit ($27k). However, you would have a capital gain liability realised (up to 50% of $266k) for FY2023-24 that you would need to pay later.