I completely understand the share price dropping lower and lower...

I completely understand the share price dropping lower and lower due to the fact of the coming credit raise, however.most credit raises I have seen are announced after a trading halt is called with the CR price set from the preceding 3 days prior to the credit raise announcement etc? Because SML have been announcing they are going to credit raise and then trading has just continued? Isn’t this information material therefore will influence the share price (which it clearly is?) is there the chance the price will be set from the preceding 3 days prior to SML making their FIRST clear announcement to the market to credit raise?