Ann: 2018 Annual Report, page-26

Yes, nice to see the sellers drying up kiwisteve. I'm thinking now that this could all be the prelude to a capital raising after the AGM. In a couple of earlier ones, just before the announcement, there was a short bounce - no doubt, a manufactured higher price at time of issue to make the offer more attractive. Hope not, but it needs to get through the few sellers to 0.08 asap. There are only 4 options:

- Takeover, in which case we need the price to at least 0.08 to ensure we are not robbed for less than (say) 0.16.
- Privatization, in which case we certainly need the price to be even higher than that to ensure the small shareholders' option to sell is fair.
- Capital raising, in which case the price will be artificially pumped up beforehand and then return after issuance.
- Nothing, in which case it's a genuine buyer looking to get in cheap. (Good, mop up those remaining sellers!)

We'll know soon enough.