I think the MD would be considering taking up the majority of...

I think the MD would be considering taking up the majority of shares remaining, he has 3 months to do his due diligence & await the decisions from the courts.
This looks like NEX's only viable path forward.
Not over yet but it's only becoming more costly for shareholders the longer the saga continues.
Everything depends on the courts looming decisions, I'd say the directors know this and may have held back in response to the issues facing the company.
NEX needed something for shareholders to invest in, the failed to address this before raising capital.
The SP for the raise was well over tote odds & poorly orchestrated.