I have gone back and read the information on the capital raising in May this year and note that the takeover panel forced the underwriters and sub-underwriters (who were related entities) to re-offer any shares they held above 20% to ordinary shareholders at 1c. This was done to avoid taking control of the company without a formal takeover.
Now that the dust has settled, there is a possibility that there will be a contest for control of the company. This may lead to a full takeover proposal. That would explain the recent rush of news to the market to ensure that from a legal point of view the market and those seeking control have the same information.
It will be interesting on Monday to see how it trades.
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