Ann: Notice of General Meeting/Proxy Form, page-5

Yes but they can redilute again later by splitting shares at 10:1 vs. this 1:10

In saying however it is unlikely given their position, they don't exactly need the money.

It mayyyyy also be a majority holder thing, by diluting they will be better positioned to name major holders.

What are the pros and cons????
Any body have experience in this sort of thing?