Hi Names
The term "Additional Shares" refers to shares in addition to your entitlement.
So if you currently hold 300,000 shares, your entitlement is 100,000 shares on a 1:3 basis.
If you apply for, say, 50,000 "additional shares" you are applying for your entitlement of 100,000 shares and the 50,000 additional shares - 150,000 shares in total.
The 50,000 additional shares is also part of the "shortfall" which is underwritten to $4M.
If every shareholder took up their entitlement there would be no shortfall and total funds raised would be $11M. There would be no need for GMP to take up any shares. This scenario is highly unlikely and there will be a shortfall.
By applying for 50,000 additional shares, you are reducing the shortfall pool amount by 50,000 shares and potentially reducing the $4M underwritten amount.
The Company has a discretion whether or not to accept an application for shares in addition to a shareholder's entitlement thereby keeping space in the shortfall pool for the $4M underwritten amount.
Hope this helps.
Please DYOR.
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