The St*ckhead Stoush Report, page-3

The major allegations dont have a leg to stand on.

Its entirely standard practise for a bidder to acquire a holding in a target prior to an takeover bid, and they are entitled to pay whatever is required to acquire those shares.

I suspect the majority of the shares that were recently issued were loan notes or similar instruments being converted to shares at a price that was agreed and stated in the terms at the time the instrument was agreed. Given these would need to be converted as part of accepting the proposal by the holders anyway, it is a non-issue.

I suspect that this one awkward block of shares will end up being in isolation, and this is merely them being awkward again.