"The shorts were reduced by hedge fund(s) who participated in the latest pp, and who then shorted the stock (having assured ECU that they would not)."

Hey lawnbowler, that would certainly explain some the peculiar share price and short position movements over the past few months.

Although asking a hedge fund to keep their, word in my opinion, is akin to providing a crack addict with money on the condition they spend it on food or clothing.