Ann: Appendix 3Y (Raphael Geminder), page-5

If my memory serves me right RG was gifted about 60 000 shares @ 0.84 cents on Friday 1st on market, that leaves 150 000 shares that sold into the offer for a total of 210 673 shares.
My question is why would anyone sell into the offer when they could get more on market and get paid quicker, you would really need to be uneducated, no offence, but seems very suss!