This is exactly right. I think a lot of people have been expecting that Peter Malloy’s options are going to be converted and sold on market. They are now in the hands of people looking to the long term. We are talking near 5% of the current shares on issue so this is not a small thing.
More than just the taking the shares out of circulation, it is another signal of how serious these investors are taking RAC.
Ann: Strategic investors make further $1.5m investment in Race, page-26
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