I'm sure management have followed the letter of the rules with this raising. I'm also sure they have NOT followed it's spirit. Trebling the issue completely changes it's tenor.
It just shouldn't be allowed fullstop. Where else do you commit to something only to have the conditions changed on you before you get the goods. And the company KNEW it was heavily over-subscribed, they announced so on the 4th February. Surely they knew then that they were contemplating increasing the cap substantially and should have stated that was their intention.
It's wrong, totally wrong. Management are judged by their actions, whether that be legal or moral. There is no doubt it's a black market against management in terms of trust.
Again it wil blow over eventually and all wil lbe forgotten if they do in fact prove up the resource as viable. But some will be now questioning that purely because of this action in respect to the placement.
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