Originally, I thought that Cliff would do the same thing - play one against the other in order to drive the share prices lower.

However, there may be legal reasons that they can't do that. The largest being overt market manipulation and the second being insider trading. Yes, they are certainly manipulating the market right now, but they are doing it in a way that cannot be challenged in court. It is a grey way of doing it. If they were to flip around now and go after KWG, then that would be illegal, since it could be shown that they intentionally released news that dropped the SP of KWG.

The timings involved are all norms of the Business Act. Investors must be given sufficient time to get their information by mail, and since there is always the potential of international investment, there is a minimum amount of time that needs to be given for matters requiring a shareholder vote.