if the company is making say 3m profit ? and decided by new...

if the company is making say 3m profit ? and decided by new directors (redbrook) to recommence dividends, thats like a 50% dividend yield.  
Or return excess cash  to holders, say 12m, thats a 200% yeild. leaving the company with 18m.

I recall the rhetoric of the original post float, was the ceo wanted cash buffers for store refurbishments.

OK, but clearly the operational cash flows are doing well enough, as the cash balance has retained bouyancy.

Alternatively, if Redbrook launched a takeover at say 3c, they could sell the business and cash book for a lot more than the  additional 80% x 471m fp, x 3c =  11m to acquire it.

But look at the timing, and why Redbrook have moved now. Just before the legislative changes occur.

Smoking signals Pocahontas ?