shareholders miss out

Hi Why should Shareholders pass the resolution for the 165 million share placement ( part of the 200 million placement ) at 10 cents. These shares should be offered to Shareholders and Option Holders as in a SPP or maybe a 1 for 2 rights issue. This would also give option holders a chance to convert their options and take place in the issue . Shareholders and Option holders are more likely to hold their stock long term. DYOR Cheers Towie