Ann: Change in substantial holding, page-15

I think you've covered off the potential scenarios.. Interesting to think about at least, until their 'plan' unfolds. I hadn't considered voting power, although I wouldn't have thought someone would use this approach for that but who knows.

The only strong impression I get is that they must be seriously confident of something, be it good or bad news/outcome. I can't imagine they're looking to manipulate the SP based on their own momentum of buying/selling, like you mentioned about forces driving the SP back so that'd probably be wasteful.

I mean, who would keep borrowing and paying interest on so many shares unless they were 99% sure of an outcome?