Ann: Update - Notification of buy-back - ICI, page-11

have to agree with FingerLicking. If active SBB during the last months would have led to ICIOA being exercised, then ICI would have been in an even more fantastic position with 10 more mill on the bank, for very favourable dilution. However they probably did not see that as a realistic outcome in this market. They might be waiting to sweep up possible selling of exercised ICIOBs though. Or they are eyeing other opportunities to grow the company further. Or both? Or they are just confident the SP will go up based on current development and think that the cash serve better as a very healthy security, both for SP and ability to act fast when opportunities arise