Ann: Pro-Rata Non-Renounceable Rights Issue Results and Placement, page-8

No shortfall, 64.75% was taken up by shareholders that they were entitlement too.

The 35.24% of units that were not taken up have been pro-rated due to being heavily over subscribed. I think we will be given about 31.6% of the extra requested amount.

Working outs:
Being that the total amount to be issued was going to be $1,473,488.83 we need to minus the 64.75% of the issued amount.
$1,473,488.83 - $954,172.77 = $519,316.06

Being that it was over subscribed by $1,119,266. Need to add the amount left to be issued ($519,316.06) plus the over subscribed amount ($1,119,266) then divide that by the amount left to be issued ($519,316.06) is 31.6%.

The additional $112,000 was a placement that isn't part of the SPP. It does make make you wonder why they have accepted a placement on top of the SPP. The extra $112,000 with obviously be used for working expenses, but more dilution. But with the directors allowing a placement to happen, why didn't they allow the over subscribed amount be also as part of the placement as well?