Ann: Volt Corporate Update, page-13

I think you are on the money possum. This is a very well planned SPP....BOD's would have known investors may have been wary entering this stock, even with a 20% discount, without some good news immenent....hence the timing and slight delay initiating the offer date imo...plus, any sp rise now still comes @ 20% discount and less dilution for the Co.
In essence our 2 X $300k BODS may have stood to make a paper profit of $60k between on the day shares are issued if they got the their full allotment...some would say 'small change's to those guys but l don't think many people would step over $60k if they on saw on a footpath. Considering the pressure and apparent hold-up due to law change etcs, in the limited time VRC had to CR and consolidate SP for oppie conversion, the BOD's have done a great job. Let's hope the 'news-in-waiting' delivers as expected.