people are getting confused by the term oversubscribed ?
this means that all rights & shortfall shares from rights not taken up were over subscribed but there may have still been a shortfall from un- exercised rights, probably not many due to the share price action.
not sure what the agreement is between the company & patto's is but i think it may be down to patto's to handle the distribution of shortfall, they have cleaned up nicely with the under writing fee & % of the whole amount taken up, that is why they drive a hard bargain as to how discounted the issue is ?
i think they may have taken a short term hit on the SPP deal.
"if oversubscribed...scale back all applications in the same proportions.", page-3
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