shareholders meeting

Firstly I have had a response from my MP saying he has referred the matter to the Minister for Financial Services (not sure why as I asked for ASIC to investigate)

The cicular to creditors in December said a shareholders meeting would be held in April to approve the issue of new shares to YA and GT. What would happen if shareholders voted against it? ( I take it YA and GT would not be entitled to vote). For existing shareholders to have 5% shareholding, that I imagine will be worth peanuts to me, I would rather vote against and take a 100% loss.