Hi @bobggGood question, and one that I think many shareholders...

Hi @bobgg

Good question, and one that I think many shareholders had given the poorly written prospectus.

You would expect this to be clearly explained on page 29 of the prospectus, item 2.11 'Shortfall Offer', but the explanation is vague. Instead refer to item 2.13 'BPAY details' which states:

In respect of the Shortfall Offer, if a payment is received in excess of the amount required for
your full Entitlement this may be treated as an application for as many Additional Notes
covered by your Application Moneys, up to a maximum of 50% of your Entitlement.

This means that if you pay more than the dollar value of your Entitlement it is taken to mean that you wish to apply for additional units.

For example, say your Entilement is for $10k of notes. If you pay $15k, then it will be assumed that you wish to apply for 150% of your entitlement. If you pay $12k, 120%, so on and so forth. Of course your actual allocation of additional units depends on how many existing shareholders don't apply for their entitlements. A cynical me would almost think the underwriter didn't want shareholders to max out their entitlements.

If your full order doesn't get filled you will be refunded the difference. So, if in the example above you paid $15k but only half of your additional order got filled (being 50% x $5k), then you would be refunded $2.5k.

Importantly, you can still apply for the additional units at any time up until the offer closes, on the condition the funds reach their bank account in time. Even if you have already placed an order, so long as you use your personalised Reference number (if paying by BPAY) they should be able to identify it as an order from you.

Ie.
Biller code: 360156
Ref: 1571799000002500000 <-- your personalised Ref#

Hope this helps.

Important: Obviously, don't use biller codes or reference numbers listed on HC -- refer to the actual documentation. The Ref number above is not real, I think I added some extra zeros, but one thing is for sure - It's not mine (I'm happy to pay for my own units). If unsure of anything, give the registry a call. DYOR, etc.