PPT became a substantial holder on 3rd May when they bought 18.3...

PPT became a substantial holder on 3rd May when they bought 18.3 million shares at 0.46. Before that, they had 6.4 million share at 1.xx dollars, so they reached 24.7 million shares. They bought 3.3 million shares from 4 May until 10 May, at average price of around 55 cents, having a total of 28 million shares. They sold 6.4 million share up to 10 June at average price of 36 cents.
Therefore, PPT already took the loss on the 6.4 million share they had previously to the ann on 5 May (at average price higher than 1 dollar), and the majority of shares they hold now are on an average price of 47 cents.
Will be very difficult for them to sell their shareholding without dumping the SP, as they will have to find institutional investors, and should be really hard to find one now. If they decide to dump the share price, will be hard as well to buy back such a massive volume at lower prices, without pushing the SP up, so they will prefer to watch and wait now IMO. They will probably sell some and buy some, but not like they did when they bought 18.3 million share at 46 cents.
If SP moves below the 25.5 cents support, then will probably rebound soon, as new management did the necessary clean up of the dodgy accounting, and next financial year should come with less surprises to shareholders. Also, at such a discount, there are thousands of PE trying to take this private. Same story as Billabong, but more upside here for punters!