Unless GEM or their agents have chosen to try and buy as many of...

Unless GEM or their agents have chosen to try and buy as many of the remaining 18% they need on market. It is cheaper for them to pay a bit above 70c for the remaining shares on market than to raise their offer which would apply to ALL the other shareholders as well.
Whatever it is , at least it appears to have some prospect for those of us that are stonewalling against the odds.