Ann: Share Purchase Plan Completion, page-5

I got around the same value using market cap (at $17) and $10m issued. Somewhere between 3.5-4% of your holding, but it could be less as the min amount of 30 shares will eat up some of the amount. The only wording I wasn't sure of was
'The applicants to be allotted shares under the SPP held 12.04% of Breville at the record date of Wednesday, 13 May 2020'

Does this mean that only the 44% of eligible applicants that applied held 12% of shares on issue? If that is the case and we only get around 3.5% of our holding I am going to feel pretty dirty about the whole situation. Wow, I have never been diluted before when applying for the maximum amount on an SPP! I really hope I have made a mistake or misinterpreted something.