Ann: Share Purchase Plan Heavily Oversubscribed, page-18

New investors or low $$ invested does impact that much but people holding shares worth multiples of $100k ..there is an impact .. I have to add more cash to maintain my value .. if that makes sense to you..

$100 was worth $300 - (200% gain).. with dilution it’s worth $270 now .. so you add $30 to make it back to $300..
You spent $130 to get that $300 .. worth now only 130% gain (70% gain gone)

Now your return on investment has dropped from 200% to 130%.. do you see the difference .. now imagine the same scenario with $100k invested .. Actual invested profit % drops with dilution