karl,
A Palmer controlled Board will issue him up to 15% of the capital without requiring a S/H vote. With his 20% and Chairman's proxies he will reset the 15% status, and will continue to issue himself shares until he is satisfied.
To get his shares cheaply, he will need to hold the SP back. Who you think is selling 3-4m shares in one order at 11c? A mental S/H who doesn't want to see his shares appreciate?
