In my humble opinion , Scary is 100 % right regarding the destruction of the share price.. There is nothing to argue about ..................................................................................................... There was a postive effect on the announcement of Ajit but at the same time Benadiba was leaving, and it was believed that around that time he started exercising his options which he would have to likely sell the shares immediately to do so, putting pressure on the SP. Furthermore, the RS created huge downward pressure and was announced only days after the announcement of Manocha joining. There were clearly some in the know of the proposed RS and that was why there was a drop the few days leading to the announcement of the proposed RS. Why would the company be surprised the market didn't respond better when they (self-inflicted) announced an RS at such a horrible time and also knew that the departure of Benadiba would cause downward pressure as well if he had to sell into the market? This is not rocket science. The RS was the real momentum killer.