90 000 000 shares @ 0.55c ?

Hi to all LTH. My first post on here! I have a question for those in the know. On 16 June 2014 there will be a meeting in which the company seeks approval for the issue of 90 m share to instos at a discounted price of 0.55c. I know that on date of the notice the SP was way lower than the current level! The question i have is will the resolution be adjusted to a fairer ie higher price to instos or will it eventually be approved at that rediculously low price?

Thanks in advance!