Companies just can't issue shares as they please - there is a...

Companies just can't issue shares as they please - there is a max of 15% per financial year that can be issued without shareholder approval. Companies can also pass a resolution at the AGM for an additional 10%. Shareholders can approve or not. In this case the first portion of this raise takes them to the max. They then need shareholder approval at the Jan special meeting for shareholders to approve the rest. if there was a SPP that too would need to be approved then. But until that approval is given no more shares can be issued.