I don't think OCP could scrape together more than $110m cash from Signature Security sale and present cash reserves - and the sale of SS hasn't yet been completed. Even with the value of convertible notes that ISF owes to them, I don't think this is enough to pick up the whole of ISF.
Also, their clear strategy in their half year report is to look at possibly liquidating assets in order to narrow the gap between s.p. and NAV - they even talk about having a meeting to vote on winding the whole thing up if they don't get the gap narrowed by April.
If you consider the statement in their half year report that their "response and or participation will be decided once that strategic review process progresses", then it seems perfectly logical that they have gone into halt in response to ISF announcing the outcome and will announce their own response to the review before resuming trading.
ISF Price at posting:
5.2¢ Sentiment: None Disclosure: Not Held
