Ann: Notice of Annual General Meeting/Proxy Form , page-8

re: Ann: Notice of Annual General Meeting/Pro... Another thought:

It's quite possible that IOH are getting serious about acquiring a new (and hopefully undervalued) asset/resource and are intending to pay for it in stock rather than cash.

It still dilutes Stokes, but it would be interesting to see what they have unearthed and what sort of deal they can cut in this environment.