Yes the restriction on selling was a GREAT idea, and i would have applauded it, problem was, it was announced days AFTER CR had been announced-really, what did they think was gonna happen. So this in effect has done 2 things. 1) driven the price down immediately and 2) now locked out, I suspect quite a few from partaking in the SPP thereby giving Pattos a greater piece of the pie. As i said before, i hope Pattos are held to this same rule, though highly unlikely. Would be interesting to find out if they had sold any post announcement.
Management had better get on with these announcements and take note from the backlash they will cop come voting time.
Ann: Underwritten Share Purchase Plan - Extension of Closing Date, page-26
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