This should be put up for a shareholder vote if K.B has any concern for shareholders.
The most obvious question would be, why have a board of directors if conflicted shareholders would have the ability to veto any share issuance. Not a single state in the union allows minority shareholders the ability to approve or veto share issuances. That is the job solely of the BOD. The BOD sets the direction of the company, management runs a company. Shareholders? They only are allowed their opinions on these matters. And that's a good thing. If the company has 4500 shareholders then there are 4500 conflicts of interest. Besides, most single shareholders will be long, long, long gone in 36 months. And every shareholder during that period of time has more rights than the big investor -- who has none.