One or more of the large sh did not want the oppies converted,...

One or more of the large sh did not want the oppies converted, hence the CR at 2.7c to keep the sp below 3c. Why ? Take over looming. The less shares on the register, the less to pay.

There are definitely discussions going on in the background, management is forced to do what the board dictates and some one has put a lot of pressure on the board to do the CR that killed the sp run and the oppie conversion. For $ 8m dollar CR about $50m possible oppie conversion money was sacrificed.

Who can put such a pressure on the board ? Our investors from Singapore, maybe they promissed the board / management a high reward for that action.

Anyway, 4c should be soon on the cards.