Ann: Entitlement Issue - Shortfall Notice-TV2.AX, page-16

Would love to of taken more but you could only apply for your entitlement or less.
I had envisaged applying for a lot more until I saw that on the paperwork.
Needless to say I am guessing they will already have a home lined up for the shortfall shares.
You would never get 100% uptake on options with this structure, I am sure TV2 would know this.
The only way to get 100% uptake is to allow shareholders to apply for more than their entitlement to cover any other holders that for whatever reason don't take theirs up.
That is the only way it could be oversubscribed.
Knowing this, I would say that this has been engineered this way, and that those options will have a home next week, if they don't already.

Enjoy the weekend one and all.