I don't see a problem with such an offering to shareholders. If...

I don't see a problem with such an offering to shareholders. If the offering to shareholders was 10-20m shares the current PPS would definitely stagnate at 50c for a long time.

See it for what it is - PET needed immediate liquidity to take advantage of China wanting to get things happening without restrictions on PET's capability so they get instant funds in through institutions ($10m),

As a bonus they allow key employees to invest ($3m) and ensure there is something in it for the shareholders ($5m). As shareholders we have the option of buying on market or not and, as many have said, we have had ample opportunities below 50c or even now at around 50c. Most are investing here for the long term so stop worrying about a couple of cents here and there and what the BoM & staff are getting (plus they don't generally have the freedom to buy like us). You're not in this investing game for them so why should they give too much extra thought to you? If they make money we make money.

They didn't change their guidance so I like where this is going.