I'd encourage retail shareholders to vote against the allotment...

I'd encourage retail shareholders to vote against the allotment to directors. To quote myself (never a great habit):

"Recently, the company has just announced that the retail share purchase plan was heavily oversubscribed, and shareholders are already finding their applications were heavily scaled back. While the demand for shares demonstrates that the smart money is holding tight to SomnoMed, the recent capital raising was unfair.

That’s because, 270,000 shares are reserved for the chairman and other directors. Given that the shares currently trade at above $1.85, that’s a quick $94,500 paper profit for them. On top of that certain privileged institutions were issued 3.7 million shares to bag a quick profit of about $1.3 million – all at the expense of the neglected retail shareholders. I’ll be voting against the issue of discounted shares to board members – they ought to have to scramble for discounted shares like the rest of us.

Just 1 million shares at the discounted price of $1.50 were set aside for retail shareholders. As it turns out, about 500 shareholders applied for shares, meaning that on average they would receive 2,000 shares each. The total paper gain for all these retail shareholders was about $350,000."

Here's the article if you want to share it with other shareholders.