From asicScaling back allotments "38 A number of respondents...

From asic

Scaling back allotments
"38 A number of respondents raised the concern that where share purchase plans
are oversubscribed, allotments to holders are scaled back. This generally
occurs because issuers only want to raise a certain amount of money in this
way, and where an offer is over-subscribed, the issuer scales back the
allotments to shareholders so that only the target amount is raised.
39 To require that there be no scale-back of applications may in fact discourage
share purchase plans from being offered and result in even less opportunity
for small investors to participate in capital raising.
40 However, we will make it clear in the relevant regulatory guide that issuers
must clearly disclose in the offer document if they reserve the right to scale
back. We will also monitor how scale backs are applied in practice. "


Webfirm states their right to a scale back if total demand exceeds $4 million.