Agree with most of your statement--But-IMO the .70 or less PPS may be due to profit taking from the shareholders that bought into the offering. Then the restructure(rs)proposal drove it lower. Prefered shares(offering) are still held by all. Thinking they sold their "common" and are holding "prefered". VOTE AGAINST THE REVERSE SPLIT. IMO we will be better if it fails. Held all my shares-had some relatives buy @ +/- .60. Just my two cents.
I'd still vastly prefer the company win the vote on the reverse split, rather than allow those lobbying against it to force the company into a delisting.
Once any delisting occurs... you can expect there will be an effort to complete the "takedown"... once the exchange rules enabling protections of the shareholders are removed as an obstacle.
The only ones who'd want to vote against the RM would be those who are looking to take it down off the exchange... who are people looking to screw you over...
First: I voted against the RS and also the board of directors and the stock option plan.
>>> If you all remember, after the equity offering was announced but before the shares were issued DHT stock rose to $1.40. It then dropped to $0.90 once the new shares were issued.<<<<
The stock rose for a month BEFORE the announcement and then dropped like a rock.
March 19 it rose to $1.53 and the next day it was $1.00 after the announcement. It then just proceeded to drop more after than.