Ann: Volt to Launch Capital Raising, page-215

Hi Hulahoop,

There is definitely some type of bot action going on at end of the last few trading days with VRC at the moment ... The way the bids are just covering the offer qtys by a handful of shares in order to get the price a pip higher is a giveaway ... Whether you would call this manipulation is probably debatable, as this type of bot action is now rife across virtually the whole ASX.

But you are correct in saying that it can't be manipulation of the SPP VWAP, since you rightly point out that the calculation for the purchase price is done on the average of the last 5 trading days before the shares issue date ... A much smarter and experienced person than me advised that it will probably take until around the end of October before this is all finalised, so there's a lot of water to flow under the bridge before then.

Will be fascinating to observe the price action in the interim ... In order to raise interest in the SPP and to encourage optimum options conversion, you would have to think that management will attempt to provide something very soon that will be viewed as a strong positive for investment ... If neither the SPP or the options produce the desired results, I find it hard to see what cards the company will have left to play to stay in the game ... So if they are holding any aces, they'll have to put them on the table.

Wayne