I think this scenario might be happened regarding to increase the price of ARL recently.
Instos knew about this announcement and they lifted up price to $1, while the mean purchase of them less than $0.7 ( especially instinent which close to $0.6). Instos will push back the price to above $1 and so 15% of that becomes $0.85 still higher than their mean price. Now in this situation :
Company will be so happy with increasing capital for new progress ( which I really happy about it)
Retailers are happy due to getting cheaper price with comparing to $1.
Instos are much happier with respect to
1. Building bed rock price around $0.85 and price will not come down of it. They save a good profit
2. Be sure retailers are selling them slowly slowly around $0.85
3. If retailers are not buying during SPP, so they can buy share with negotiations lower than $0.8
Ann: Share Purchase Plan, page-45
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