Ann: Sino Gas - Raising $10.1 Million via Institu, page-6

re: Ann: Sino Gas - Raising $10.1 Million via... They should have waited for flow rates and new RISC report before doing the placement - approximately 3 months. They don't need the cash right now and there is a fair chance the share price will be significantly higher when the above news is released.
Why raise now? They have 2 1/2 years of cash in the kitty.
This was not in the interests of the shareholders and hardly in the interests of the oppies holders and the company hasn't announced why they actually need the money.

Who is the placement benefitting?