Yeah possibly, poor guy was a top holder through all the crap...

Yeah possibly, poor guy was a top holder through all the crap and now maybe exiting at lows, so much for a nice retirement, should of held this management more accountable.

More probable though its the market realising, that the second half of the placement is very very unlikely to get taken up by holders. Not only would holders be the last people to trust this management with the years holding and watching the price just continue to sink whilst they pay themselves millions of dollars, they can buy on market for around 30% less than placement price.

If they dont get money from the placement, means they only going to raise from the sophs which was $3.4 mill, which is just enough to pay themselves for another year before turning off the lights.