The main arguments would be the unnecessary dilution and the setup to give control to ATI.
They can incentivise the lead manager all they want - but he can only do what he can do, as mentioned in the new thread that I started ATI will automatically gain 19.9% as a first step in the shortfall allocation, and then they don't have to get many more to hit 20% which I believe (happy to be corrected) then forces them to launch a takeover bid for the company. A takeover at say a 25% premium to the current price would be a price of 4.25c per share. What are you averaged at?
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