PAR. SP, page-946

ASX and ASIC were in utter operational disarray during COVID - not that joe public would know. Poorly supervised market control and surveillance individuals utterly lost and swamped whilst working at home. The markets saw accentuated volatility well beyond macro issues, with the likes of Reddit and Hot Copper having massive effect on stocks via stay at home punters:

https://www.rba.gov.au/publications/bulletin/2022/mar/australian-securities-markets-through-the-covid-19-pandemic.html

https://www.asx.com.au/blog/how-covid19-has-changed-investor-behaviour

There were some ridiculous valuations during COVID on retail investor exuberance that make PAR's move look child play - and the extent of their 2022/23 falls not unrelated. These cap raise lows a time to buy again, but I was fortunate enough to sell ahead of the Aug 2022 cap raise.

Good luck PAR holders. Its been a horrible journey for many long-term holders. Perhaps one of the long hope MPS deals finally going to be announced. I may become a long-term holder myself this time if it finally does.