Ann: Ceasing to be a substantial holder , page-20

DB are exiting Australia, just like ABN Amro are as well.

They are simply selling everything right now for whatever price they can get and moving along. The European banks do not have a medium or long term view at present. There is only short term.

They do not care about price or intrinsic value or what it could be in 6 or 12 months time. They want out now.

One point to think over is that if they are the adviser of asset sales of any BBI assets, then owning the shares may be a conflict of interest, so they are clearing right out. They would earn way more fees on an asset sale than the increase in the value of the shares.

Or another point is the shares may be held as security for something else and they are selling them to realise their security.