Ann: Syrah Successfully Completes Entitlement Offer, page-8

yeah confused by all the references to scaling back. It just looks hideously undersubscribed.

it's pretty ugly if they offer a sweeheart deal for credit suisse, and use their discretion to scale back retail holders. There needs to be a good reason - i.e. some guy with 1 share on the record date who subscribes for 100k shares.

what they should have done is allowed an oversubscription by, say, 100% of your allowance, with a discretion for more.

in fact, might this open them up to breach of ACCC or ASIC rules? it feels wrong to me.