The counter-point to this would be that bad news that is price...

The counter-point to this would be that bad news that is price sensitive legally has to be shared immediately. They have a pretty good record, as far as I can tell, of calling for a trade halt or even suspension when they get bad news (even if they don't then sometimes tell us what the hell is happening for what was it, like 6 weeks at one point).

However, the other part of the statement, that nothing appears to be happening, can be taken for bad news in and of itself. I think the thing that pokes me about that no news is bad news thing is that I don't actually care about any news except for 'firm offer has been provided', and they do have discretion about what they consider to be a firm offer (if there even were any offer!). I suspect the AGM is going to be talking about what the next steps are given the absence of firm offers, and yeah that's likely to lead to a hit.

I am very much sick of the pump and dumps. This is my last spec stock, I think; I didn't recognise when I bought in that it's just thinly veiled gambling (maybe ETFs and blue chips are gambling, but the veil is thicker and at least there's a cleaner tie between the shareholders and the profit margins).