"hasn't bought a share" I don't think there is any plan D. Binary outcome on this - if it is not sold, it is worth nothing.
I would not have the gall to do another cr at this point but as the alternative is insolvency there will be another cr if there is no deal. If the sp edges up (pre cr) it may be the last time to get out. If it flys up, I hope news of a deal has leaked. Markets are still up and it would be better to take a reasonable deal now than wait any longer.
ALT Price at posting:
0.5¢ Sentiment: None Disclosure: Held