why all the new issues?, page-9

This new EGM is an administrative process to tidy everything up for the Nasdaq listing. none of these options issues is new. it all relates to past options that relate to the capital raisings and broker fees etc from last year. what the Company secretary is doing is getting approval to refresh the capacity for the PAST issues so that the Company starts from a clean slate, which is what the Americans want/need.

They had to do this also because technically Aussie shareholders have to approve everything to set up the new US share structure, US option schemes etc.

i am purely speculating of course but I think the recent sell down is a combination of skittish market (Nasdaq dropped 2.5% on Friday), and impatient/nervous shareholders taking profit.