Ann: Increase in On-Market Offer by Drake Private Investments-BBX.AX, page-44

Yeah I think thats their last ditch effort IMO.

By them doing so, they don't increase their holdings, they do loss brokerage fees, but what they achieve is it brings the attention of current holders.. As it has done - some, less experienced players, will think that their fellow shareholders are selling into the offer because of 'bad news' and so they will follow suit creating a dominos effect.
But it seems their ploy did not pay off and our comrades have good faith in this beautiful company.