I reckon they will be courting instos with cheap shares, or covering their short positions. Buying 333M on market for an insto would take weeks and drive the price up. Converting shares drives the price down and slims the margin possible for the bondholders and instos. Hard for instos to buy in whichever way without pushing the SP around, volatility will be the new black I suppose. Good news if instos are coming in though.
LYC Price at posting:
13.3¢ Sentiment: Buy Disclosure: Held
