The only "logical reson" for the poor share price performance that I can think of is manipulation of the VWAP of the shares prior to a T/O.
By limiting the movement of the shares and preventing any advance on good announcements the eventual price of a T/O would be reduced.
The recent action in the shares and any positive movement that occurs get beaten down.
IMO this is classic manipulation prior to a T/O offer being made.
