The new investors taking part in the placement had the chance to get in at an heavily discounted price to what it would have traded otherwise. The SP in the few weeks prior to the CR has been clearly suppressed to make this deal happen. I am however kind of fine with the new shares release, as long as this time we see a clear direction with substantial revenue growth.
Having said that, I voted anyway against the free options. Directors don't really deserve it as they made many wrong choices along the way and new investors had plenty of shares at discounted rate. That should have been more than enough.
Unfortunately it is pretty common however for all resolutions to pass. Those proposing the resolutions in the first place either hold a vested interest to see them passed, or work for someone who does, and they generally have considerable voting power.
Regarding the rest of shareholders, they either hold a small parcel and can't be bothered voting, they don't know how to vote, they don't understand the resolutions jargon, they forget to vote or they simply believe their vote won't make difference, since the decisions have already been made regardless.
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