I would allow shareholders who participate in the placement as full a placement as possible. Why do I say this? If being diluted is the problem then it's the owners or shareholders if you like buying a bigger stake as they see fit. This is my opinion as they have been loyal holders and supported the company rather than raising to instos who sell companies out for pips as long as they stand to make a dollar.
Ann: St George Opens Share Purchase Plan, page-46
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