real struggle to get the supply, page-12

That's right tutes, a noose around the neck.

If I was PALA I also wouldn't want to be in this position - killing off any demand by selling the supply you have to move to exit - catch 22 situation.

Logic suggests a speedy outcome serves both parties....just a matter of the price to be paid.

Logic also suggests that if they know some big announcements are "imminent" then they may be able to sell into a rally at a much better price than they may get in an off-market transfer. Given last contact with the PEN board was Barton late in 2013 I doubt they have the inside line anymore.

It's also possible another party is suppressing the price to ensure the vwap over time stays in a place that suits.