Just that. Intent to defraud? Do they have a conscience? Up until this point (for years) everything was good to ok, then all of a sudden kaboom! For it to coinside with the offer (which has been tied up at Duff & Phelps) is very unsettling and quite suspicious.
What you say is most definitely the paranoia with chinese stocks.
I seriosuly doubt that was planned in advance. With everything happening in the chinese sector for the last year, I doubt that they just RECENTLY cooked up this "scheme". If they did it would make Bernie Madoff an amatuer.
Im not giving anyone the benefit of the doubt here, but the fact is Al Fengin did buy a ton of shares on the open market at over $5, he did make the proposed tender offer, they did hire a lawyer, they did get respected Duff & Phelps involved, they did file for this extension.
Its very understandable that this smells but we just dont have enough information