There are around 42 holder accounts excluding RG that have 50k...

There are around 42 holder accounts excluding RG that have 50k of shares/account that whether like it or not, probably be unable to sell all their shares on the market because if they do that, it is probably crashing the price down to the peanut. We are talking about over 38.5 million shares out of the remaining 40 or 41 million shares left on the market belonging to those 42 holders accounts. Today trading activities probably reflecting some holders don't want to get into the complication mess.

The announcement, in my opinion comes with the intention that RG wanted to delist Pact to remove as many of what he may think as 'rats' from his eyes. He probably thinks that even if we hold stubbornly, we have to come to bow and beg him to buy it back the shares. But also at the back of his minds, RG knows he probably can also turn company price value back anytime, say for example, to get it revaluated in a year or two when all the engines are running properly. The guy just not throwing his fortune and also borrowing 80 millions plus in the last takeover just to toss it in the bin. While I can not see what's coming next, but clearly, I think this is a scaremongering strategy and execution.

Like I said, whether those 42 holder accounts like it or not, they can't just dump it on the market because if they do that, sp will probably sink down to zero and I know personally many o those top holders got more than 1 account so the 100 holders requirement is not an issue. Myself got 4 accounts and RG got 3 accounts so it is already 7 accounts. So, I think this is RG saying that, 'I want to buy back the company even though at higher than the last take over bid price, but I still want to buy it at the discount price and I will do that by scaring people out and limit the number of remaining holders'. The guy bought the stake at the rejected shop for $1.80 or close to it and agree to sell out at $6.xx something so I am not surprising at the back of his mind, his ratio is 3.5 times of what ever he bought. So, let us say.84 * 3.5 = $2.94/share is probably the valuation of the company.

While there is a takeover panel and the Court interference options, but ultimately, it comes down to RG's pocket. Does he intend to throw his fortune in Pact and the 80 mil plus of lending in the shadow and for how long? It hurts him more than us is for sure and it probably be a matter of time till this guy pop out to buy remaining shares and somehow get Pact revaluate at 3.5 times price higher than the current price.

Just my thinking