IPO - Caspin Resources Limited, page-61

I reckon that the ASX has given Caspin a rogering for the spread/allocation policy.
It is simply wrong for the board to protect the percentage ownership of the company for a few large holders while diluting the rest of us.
I understand that all shareholders have to be treated equitably - just like in a rights issue.
I also think that the Board were too clever by half offering Tim Goyder 10% of the issues capital in the float!
How dumb are these guys.
Float the stock, look after existing holders and keep it tight - get a great stag price upon listing and only then see if Tim wants some stock at say 40-50c!
The Caspin IPO is shaping up as a textbook example of what NOT to do!!!
Good luck all - and lets hope the ASX has actually saved us from our Boards attempt to treat mates and insiders preferentially!
Even if I am only half right, it would explain the radio silence and the ridiculous delays.
Cheers,
DDD