Ann: Chairman's Address to Shareholders, page-2

I see Alison has given no apology for (or for that matter reason to justify) the massive proposed dilution. I know they need to raise capital to continue development and it is unreasonable to expect the directors to keep footing the bill .....but the dilution proposed is of gargantuan proportions. For those of us who have supported the company and SP over many difficult years, the latest proposals are very very disappointing.
So much so that I couldn't make up my mind which way to vote so abstained completely this time around. I'd love to know if the board gave any serious consideration to the interests of long term supporters. Did they for instance consider bonus options for existing shareholders exercisable a couple of years down the track at say 1 cent to lessen the impact of their capital raising? I suspect not simply because their own interests are no longer the same as those of ordinary investors.....
GLTA
Kind regards,