Ann: Appendix 2A - Placement, page-42

As a nOOb investor who only started looking into the stock market last week, I have a question about placement shares (yes, I will google it, too): When are placement shares usually issued? Before or after public investors?

I ask because, to my noob-trained eyes, it seems 'unfair' that there'd be 1000s of public investors helping the company, only to be shafted a few days before drilling, by private shares. I mean, I know I have a LOT to learn about this game... is this how it usually goes?