Alternately there are some sort of voting thresholds that they have in mind that they want to get over. It might be a matter of "buy 4.7M shares to improve chances of getting something for the 67.5M shares that are already a sunk cost". This might mean that even if it wasn't a smart thing for other people to buy $1 for a nominal $1.12 worth of cash (due to the difficulties of getting anything out) it might be rational for ZL.
Dunno about the mechanics of another RTO. Don't existing shareholders usually get crushed down?
Ann: Change of Director's Interest Notice - ZL, page-8
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