announcement out, page-20

Noodles,
Whilst I agree with you in that the investors once they saw the SP falling, every type of investor saw an opportunity to make a quick up by shorting or selling to buy back cheaper.
However I am of the opinion that although the placing shares are going to get allotted on the 27th, these will by and large replace the shares that were sold/shorted by the institution today. Furthermore we have only been notified of 3.5m GBP drawdown yet we were in a DD scenario for a lengthy time.
This leads me to assume that the placing negotiations have been going on for quite some time now and during this time a lot of the RRL/RRS shares have been sold at circa 20p. Hence the SP being static for a considerable amount of time. These will now get replaced on the 27th of April at a cheaper price of 17p.
The SP IMO is being played and was only let off the leash for 1 1/2 days and driven to 23.5p to allow them to offload huge quantities and still make a decent percentage. Just look at today's volumes on the AIM.
This is going to played until they have offloaded the amount of shares they need to and then we will see RRL/RRS drive forward. But bearing in mind they have to make their profit, I don't envisage the SP going too near the 17p placing price. All IMVHO of course.