So you are right on the shortfall allocation being allocated to ATI to 19.9% which is pretty much a certainty given 51% of shares on issue are ineligible to participate.
As to the takeover, I mentioned in another post there are only a few ways to increase holdings above 20%. A takeover proposal is one way, a pro rata offer like we have here is another way. Having more than 20% holding does not trigger a takeover. I dont think any amount triggers a takeover if the holder does not want to.
They do also mention in the prospectus that ATI does not want to inject more equity into the company other than this offer. But they are keen on offering more loans. Sure they can change their minds but unlikely in the short term imo.
So you are right on the shortfall allocation being allocated to...
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