Ann: Change in Director Remuneration - H Zhao - 19 Sept 2014, page-13

Hi Multi
fair question . I mentioned I will ago I could buy in if it dropped to 11.5-12 . I got impatient and bought at 12.5. I was hoping for an IO bounce to say 90 and a sentinent improvement which would take it to about 14-14.5, but as IO price moved back down I offloaded 600001 shares yesterday and 100k today at 12.5 which is my entry price ( partially filled top of line from day before )
I did however consider sticking my 700k shares in line at 11.5. Grr has enough cash and inventory where it is partly insulated in the downside - but as you say the longer the IO price stays low the weaker that cash position will become
so in summary I was hoping for a short to medium term profitable trade which didn't come this time . If you don't hold it's not that risky to buy at these levels for the ST , if you are prepared to sell for a 5-10% loss is things get worse quickly