I certainly hope not as this would be a complete failure in...

I certainly hope not as this would be a complete failure in leadership as:-

A) Share price was solidly supported in the mid 4's and basic primary school math tells you to do it then to reduce the dilutionary effect on existing Shareholders.

B) Tax loss selling has heavily fueled the SP decline, so again timing as you mentioned above would be negligence at the highest level.

C) There is plenty of funds still available to continue and display then leverage the 'New growth opportunities' kicking in.