Ann: Ceasing to be a substantial holder , page-8

hi drs
you are correct !
the cap raising was well over subscribed & i dare say that if you were to ask the shareholders that that bought at 44+ cents if they would have liked to buy some more at a deep discount to market they would have loved the chance ?

if you combine the cap raise with a big short seller then yes you can have a big drop as we did to bring the shareprice down to an even deeper discount.

the substantial notice clearly indicates this was the case the person'(s) have borrowed shares & dumped them on the market. now i dont know the reasons for this play but it would seem that it worked, until investor got a shock when they saw the shock low price an entered the market to scoop up as many as they could while the shorter started to cover ;)