I think that they are still trying to dress it up for a sale in the future. Its always been that feeling at work from the time we were bought by Toll. ie Freightcorp.
They treat there shareholders the same way as their employees. Whatever they are trying to achieve, its not in the best interest of "current shareholders"
If that were true they would have accepted an offer for the sale of somwhere between $2 and $4 (only guessing)
My shares would be worth more today if that were the case and no dilution to boot.
Only one person will get rich out of this setup.
Cheers
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