Classy way of doing it - selling down all in one go at a realistic market price to clear the stock, rather than overhanging the market like a bad smell until it is cleared.
Question now is who bought.
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Looks like it was the part of the Masfen holding - SSH a bit confusing given there is an old acquisition (rights issue) and this sale combined.
.........GRAND OPPORTUNITY TO TOP UP SAYS GR8DAY!........this will NOT last for long.
Sparky missed out so assume it is the big instos that got them. They have performance reporting for the period to 31 March. They will take the profits in the hope of topping the table and therefore getting more funds under management next year as people chase winners. More FUM means more fees and more bonuses.
The full 10m may not be traded but I expect high turnover for the rest of the week and into next week.
If they had let Sparky double down and buy another mil, no doubt he would hold as he thinks long term, unlike fund managers who are rewarded short term.
Well, 500,000 odd have sold after the placement, agree with Balance...once it gets over 76c.. there will be a panic to not miss the boat, or the train. currently about 250,000 available then it hits 77c ( 73..57000 ....74c - 63000 75c ..50,000 76c... 73000 ... )
Just topped up at 70 cents. I've been good at picking the bottom lately, so don't worry guys, it's all up from here :p.