I think it may be a little more complicated than that. I think...

I think it may be a little more complicated than that.

I think some people are taking strategic positions that will allow them to block a complete takeover over of the remaining ASX listed company. ~70 million shares. This means the remaining stockholders may need to be 'compensated' for letting go of their remaining ozzy shares.

Meanwhile, I suspect the European 'insiders' would prefer to delist but cannot compel people to sell their shares unless the 'holdouts' reach a certain low percentage. However, if they cannot takeover the entire company and accept that fact, they will be quite happy to see the share price continuing to rise as it will help their capital raising effort in Europe. We may actually see the insiders continuing to buy shares not with the intention of taking over all of the remaining capital but to keep the stock price inflated to help capital raising in Europe.

Finally, any retail investors inclined to sell will already have done so.

All of this points to upward pressure on the price in the context of low liquidity. It could simply keep going up despite the mystification of long-term holders in Australia.