Have changed it for Dave : Could you also consider the following...

Have changed it for Dave :
Could you also consider the following :If the total bid for is less than AUD$3m, then you’ll get all you ask for. If more than AUD$3m then there will be scaling back.This is usually done pro rata which I think is unfair but might there be a minimum guaranteed success.If several, say 200, rich cats bid for their maximum AUD$30,000, that's AUD$6m and the rest of us bid for AUD$3m. So, total bid is AUD$9m or 3 X oversubscribed. The simplest (and unfair) way to allocate is then to say everyone gets one third their bid.So,200 fat cats get AUD$10,000 worth of shares each(and associated options) and the rest of us split AUD$1m(and options). Small bidders who wanted AUD$1,000 worth of shares just get AUD$333 worth eachA minimum guaranteed success would solve this. I am not sure how over subscription would normally be dealt with in Oz, but hopefully this idea is useful.