vote - poll, page-7

Just pulling this data from the announcement.

-US$184 million (A$219 million1) Institutional Entitlement Offer
-US$101 million (A$120 million1) unconditional share placement (Unconditional Placement)
-US$193 million (A$230 million1) conditional share placement (Conditional Placement)
-Retail Entitlement Offer total A$187 million, only 69.5m subscribed by retail investor. Shortfall of A$117.5 million again allocated to institution.

In short, retail A69.5m vs Institute $686.5m if conditional share approved.

The way it works for capital raising is if you are a retail investor, you have to hold shares prior to announcement date for entitlement of new share. However, any institutional investors can subscribe regardless of their holding position.

At announcement, institutes can subscribe SPP @27, short sell @ 1st trading day @ 33c, locked in a profit of 6c!! i.e. 22% in a day!! Now you don't call this a rip off!

Too much shares floating is no good for SP. will see BLY stuck @ this level for a while.