Plus Andrew 'Twiggy' Forrest is the largest IXC holder. You do not want to piss off an investor like that - you will never get his help again.
Unfortunate he had to sell at all - because he has absolutely left $2.5M (maybe more) on the table by needing the cash now as opposed to 7-8 months or so. What a bummer, but im guessing David is very comfortable with the amount he will make off his current position.
AGM Questions, page-106
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