I can't see how Elph can gain control anyway!
Given he has 24.95%, Mike Coote and related entities have 16.068% (as at ann of 10/3/2010), that leaves approx 59% available. 35% of 59% is only 20.65% which leaves him short of obtaining 50.1% control.
Imo this is simply an opportune grab at a larger slice of the pie for the recovery when it occurs.
