first come first served

If you are after shortfall shares this may be of interest to you .
Snippet from RNS 22/09/11
In accordance with the Offer Document, the Directors reserved the right to deal with the shortfall shares at their discretion at the same issue price as offered to shareholders under the Rights Issue.
I understand the logic completely in waiting but generally its first come first served on shortfall
At the last rights issue the SP didn't drop to the offer price and there was a nice rise after it , the same again would be more than welcome and much needed for all of us.

Now I may be reading to much into this from the Presentation but I will be transferring my money on friday :

• Cononish will be Scotland’s first operational gold mine

• If rights issue not fully subscribed, may provide an attractive opportunity for possible strategic partner entry to Company

• Identifying possible toll (contract) treatment opportunities

• To investigate opportunities for treatment of Cononish ore at third party facilities

The second fits in with what was possibly a site visit last friday , the third and fourth I believe are the same and the first is a bold statement from a man who is generally reserved in this manner .

All three directors will be taking up their full allocation, they are not allowed under ASX regulations to take up any shortfall shares.