I just finished reading the The Acquirer's Multiple and many theories are presented and quite a good read. One section / strategy was how brokers can make as many multiples of the share as they possibly can. As a retail buyer such as I and I am guessing the majority of us, we only need to know 50-70% of the information to invest. Higher risk = higher reward.
The big boys, institutional investors require 90%. Hence, my calculated guess is they are waiting for BFS. The lower they can keep the share price, the greater the multiples they can make. Simplistic view, but one I can understand and appreciate, and the reason why I will continue to top up