In the context of over-subscription, what are the three alternatives available to the directors to resolve the situation?

Accept some applications in full, Pro-rata allotment to all, Combination of the two

When a company faces over subscription, where the number of applications received exceeds the shares offered to the public, the directors have three alternatives to resolve the situation:
Accept some applications in full: In this option, the company chooses to fully accept the applications of a certain number of shareholders. These shareholders will receive the full number of shares they applied for, and their application money will be adjusted against the shares allotted.
Pro-rata allotment to all: In this alternative, the company proportionately allocates shares to all applicants based on the number of shares they applied for in relation to the total oversubscribed amount. For example, if the company is oversubscribed by 25%, each applicant would receive 80% (100% - 25%) of the shares they applied for.
Combination of the two: This is a common approach where the directors accept some applications in full and then apply the pro-rata allotment to the remaining applicants. This combination approach is often chosen to balance the interests of different applicants and to make the distribution fair and manageable for the company. It allows for both full acceptance and a fair distribution of shares among all applicants while avoiding the outright rejection of applications.