Refer page 5 of ADY's Rights offer Letter. Shortfall is made under Rukle 7.2 Exception 3 (i.e. Shortfall to rights issue does not require shareholder approval) therefore can only issue shares up to limit of rights issue i.e. Total Rights issue plus shortfall must be equal or less than fully subscribed rights issue.
Anyway, that is how I read it.
Regards
SP
Refer page 5 of ADY's Rights offer Letter. Shortfall is made...
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