placement, page-72

Can more knowlegable members educate me on this placement business? I suspect management have treated me fairly but am harbouring evil thoughts.

OK, I understand that it is inexpensive and efficient for management to go to institutions and "sophisticated" investors (what does that make us?) for funds.
OK, I also assume that management expects the placement shares to be tightly held.
OK, I appreciate and agree with the purpose of the funds.

However, why weren't existing shareholder, not made a similar offer/discount ahead of non owners? The offer to us could been conditional that we could not sell those shares for a period and have used a smaller discount to offset extra offer expenses to OUR company.

Cripes, I last bought at 80c and would have liked some at that hefty discount.