would it be fair to say, page-81

Excellent post smallz, i'm certainly no expert in capital raisings but the general gist is simply if you as a shareholder don't participate then you stand to dilute your portfolio by a certain %, in this case by 20%. Therefore no longterm shareholder benefits from such a capital raising. As for management i'm not sure but they have every right to cash in their performance shares... Hurry up and cash them in management!!