Must say I am a bit upset that they have offered it at about 50%...

Must say I am a bit upset that they have offered it at about 50% discount and have not extended the courtesy of allowing existing shareholders the opportunity to minimise dilution.
I would be highly surprised if the 'public' portion of the offer goes to anyone but the mates and cronies.
Speaks volumes of management
(Disc. I sold as soon as I figured out my chances of getting a fair allocation as a holder was no different to that of the public)