ooops

The following was just announced:
"ReelTime Media Limited (RMA) lodged an Appendix 3B on 17 th September 2007 regarding an issue of 40,000,000 ordinary fully paid shares in RMA to Maylord Equity Management Pty Ltd. The convertible note was approved by shareholders at an EGM held by the Company on 17th September 2007. The Company now requests that the Appendix 3B be disregarded as whilst approval was given by shareholders, Maylord Equity Management Pty Ltd have not exercised their right to convert the note in to shares. This will be a done at a future date no later than 30 June 2008 per the terms of the convertible note. "

What sort of a circus are they running there? How would you not know if someone was about to purchase 40m shares @ 2.5c. Obviously Maylord are not about to pay over the odds for shares that last traded at 1.5c.