You could read it another way though with relation to fairness - all individual shareholders are invited to take part (up to the same amount) but larger shareholders get larger allocation based on their holding at record date - as if it was a rights issue rather than SPP.
It could easily be argued that the scaleback could have been applied against the total applied for (say 60%) rather than pro-rata based on holding at record date.
I know it was all spelled out in the offer, but with relation to fairness, the above could certainly be considered.
todays the day, page-44
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$36.94 |
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Mkt cap ! $113.6B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 445 | $36.92 |
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| Price($) | Vol. | No. |
|---|---|---|
| $36.97 | 11870 | 1 |
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