I believe the writing was on the wall when they did their last...

I believe the writing was on the wall when they did their last sale of residential properties and returned the funds to shareholders. Up until that point all the indications and announcements were that they were going to acquire more properties using debt finance as part of the long term strategy. Then the 180 degree flip, and the Chairman's sudden resignation on top of this plus another director ( substantial shareholder) also walking, and selling his holding. Several substantial holders increased their stake around the 30c mark