Ann: Half Yearly Report and Accounts, page-3

The obvious need for a CR is the reason this has been drifting lower over the past few months IMO. Given the T20 and the other guys behind this I'd say there will be a raise in the next few months to "sophisticated and institutional investors" at around 5c so they can get their averages down, then a string of announcements will begin, etc etc. I doubt we'll even get a look in on the raise, in fact id hope we dont. Given the ~$3m EV theres not much point folding now, may as well check and see the flop.