Tend to agree @bigane.
If you remove the 43M churned through on the day of the EBOS announcement, it would require all trades over the last two months from the 4th of September to trickle 88M.
Not only would it take a stupid amount of time to offload, it would devalue the hundreds of millions of shares they cannot sell.
I would think you're on the right track with a transfer. With the EBOS placement at 5.75c per share I'm sure Management don't want to annoy their first cornerstone investor by offering a smaller chunk of the business for less than what they paid.
I still believe we'll get a nice announcement pre-Christmas.
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