Capital Raise speculation Icg, page-221

A further thought about this issue - I just had another read of the Form 603 and attached ICG letters to Mr. Zhang & co. - if I'm stating the bleeding obvious that everyone else has already noticed then just ignore me:
It is interesting that the shares were issued to Zheng & co. on the condition that "the votes attaching to the shares shall be voted and exercised in accordance with the directions of Inca's Board of Directors".
So although Zheng & co. have 180 million shares between them they are not free to use their voting rights as they choose - they have to vote as the Board tells them. So apart from scoring an extra $1.98m for the ICG coffers Ross and the rest of the Board have also secured control of the voting rights of an extra 180 m shares. Clever board: does anyone know how many shares the board members hold in their own right? - these plus control of the votes in the Zheng shares may well give the board the ability to vote through any resolutions it wants for ICG.
Also the fact that Zheng & co. were prepared to fork out this much $, and at market price (not at a discount), without control of the related voting rights also says a lot about their belief in ICG's prospects.