That's all interesting, but unfortunately I feel your theory...

That's all interesting, but unfortunately I feel your theory doesn't hold water. LPD can't move and make positive announcements while this is going on, obviously without pushing up share price. Therefore cannot progress.

Suppressing the share-price down just chases away existing investors and potential investors, LIT can hold out a long time I'm sure. It is not necessarily in LIT's interests to try and cap LPD's share price forever, as they can profit from it going up. I think their strategy was to try and suppress it until they could get Sileach operational, which is not looking as if it will ever happen really commercially.

You're also relying on the fact that Adrian is stupid, unfortunately, he has shown that he is quite crafty indeed, (except where it comes to take-over offers). There is no pressing reason for him to sell all his LPD shares cheaply, and he knows it. Who will blink first?

I still think the first T/O offer was a ... test.

I know how this can be solved however.