Mik, the question is who?
My guess is that its our beloved sub shareholder. After all we have to vote in 2nd tranche by mid August so its in their interest to supress the shares price. i know voting in doesnt mean that we decide on the price there and then but that may be part of the vote. thats how i read the sub holder agreement anyway. well, skimmed, not read. :)
But i could be wrong...