"Doesn't this mean our shares just went down in value?"

Well, first the action has to be voted and passed by the shareholders first..... second... authorized increase doesnt mean new shares will be issued.... ( its like getting an increase in your credit limit...doesnt mean you will use your credit card....however its there if you need it...)

might see SP go down tomorrow if people over-react to the news.... but thats emotion trading not fact trading....

lets see what happens after the voting results....