guttedsquid: Yes, indeed. The higher VPE's sp goes the more likely a 1 for 4 offer instead of a 1 for 3 (plus perhaps some cash component on top).
Wonder why persons want to sell ITC in the high 4c or low 5c range at all? IF holders wanted out, they could have sold at 6c when VPE did their 10% stake buying earlier...
wasa
