The institutional shareholder which had given irrevocable commitments to take up 727,000 Mackie International shares under the rights issue has now done so. On Thursday, the company had announced that the block of shares had not been taken up because of an "administrative oversight". The underwritten rights issue has raised £5 million and is designed to keep the company in operation. There were irrevocable commitments to take up 10.5 million of the 30.36 million new shares. Underwriters were left with around 50 per cent of the total issue which has been allocated to the sub-underwriters at 20p per share. The rights issue was on the basis of five new shares at 20p per share for two held.