Quote Originally Posted by Voltaire View Post
Snoopy, from memory there is an express provision in the DRP statement from SCT that enables them to set aside the discount formula if there is clear evidence of manipulation of the share price over the determining period.

Given the volume of shares traded, if there is manipulation afoot it points to someone with a very substantial holding pulling the strings (in order for the associated gain in the number of issued shares to cover the loss on sale at $1.20).
Agreed, Voltaire, the putative loss on sale of 60,000 at $1.20 would exceed the benefit of the ensuing increase in the number of discounted shares under the DRP for all but the 3 largest shareholders (as of 17 September 2010). In theory a syndicate of less large players could obtain a net benefit.

Disclosure: I placed a buy order at $1.20 today (part-filled when last I checked) not to abet manipulation but to steal a bargain.