I think BoD wants to keep the share price down until the shares issued. Now they still have 3 months. Who knows what terms will be in the 2nd tech agreement. If they can get a big upfront payment before 30 Nov. Then they can get all the performance shares for milestone 1,2,3. For my understanding, the share price will affect their tax bills when issuing the shares. So they intend to keep the share price low until the end of November or whenever the agreement finalised.
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Ann: Commentary in relation to Appendix 4E, page-63
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