I agree with this veiw but holders were expecting a raise at...

I agree with this veiw but holders were expecting a raise at some stage for working cap, they flagged it 12 months ago. It was always on the cards. So if you have insight into earnings trend and forecast, coupled with business risk resulting from active changes being made, why not pull the trigger earlier. Why wait for a decline to pre IPO lows.
I have my theories. Nothing sinister.

Don't get me wrong, I don't want to be a hindsight king, it's been a busy 12 months, I don't envy them. But big fees are being paid to parties for these corporate transactions and from the outside you would think they are having a laugh.