It does say "There will be no oversubscriptions" under item no. 1 of the SPP document. However, under item no. 7 it says "The Board may change or terminate the Offer at any time prior to the Allotment Date". The Allotment Date is 10/12/09. So it looks to me like they might decide to keep all the money they get. They could also decide to cancel the offer or increase the Offer Price on the grounds that 45c is too cheap given the recent SP rise, but that would probably be bad PR.
MEL Price at posting:
66.5¢ Sentiment: LT Buy Disclosure: Held
