You could be right, I didn't try to work through a detailed...

You could be right, I didn't try to work through a detailed interpretation, just seemed implies that (b) existing shareholders applying for more would rank higher

Another companies rights issue shortfall approach from yesterday made it explicit (see below), which seems to be a good example of looking after existing shareholders rather than SI & PI (I deleted the advisors name)

"In addition, the Company has received expressions of interest through our appointed financial advisers XXXXX and other interested parties in respect of any remaining shortfall after applications from eligible shareholders, and application of the underwriting proceeds. Applications from shareholders to take up their entitlements or to apply for additional shares will be given priority in these arrangements"

I also tried to calculate what Capri has taken up in this given the last 3 notices (Dec & March Quarterly and Todays notice) for their shares and %. I got that they only took 100k shares, of some 7m available to them(a third of their 22m shares held pre Rights Issue). Anyone check and confirm