Most likely some sort of poison pill to fence off the raider (a lot more shares for them to buy). If a large chunk of new shares are placed with a "friendly", it will make the takeover that much more difficult. Management does not want to sell, perhaps they have not milked the company enough yet.
Ann: Media regarding approach from SQN Investors, page-44
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11.0¢ |
Change
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Mkt cap ! $78.82M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 11.5¢ | 10.8¢ | $75.54K | 686.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 319816 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 111368 | 7 |
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