Pre-emptive offers

Where the constitution or shareholders agreement gives existing holders the right to take up a new round first, the Pre-emptive screen runs that process: each holder is offered their pro-rata share, can take it up or waive it, and what is waived falls into the shortfall pool for others. Running it on the platform stamps who was offered what and what they chose, which is the evidence the round was opened properly. Each holder is emailed a notice when the round opens, and a holder counts as notified only once that email has actually gone. If any notice did not go, usually because the holder has no email address on the register, a band above the table says how many, the reason shows under each name, and Send notices again retries them once the address is fixed.