Ann: Race In-person Investor Briefing Invitation Perth, page-44

I understand shareholders have reached out to acquire off-market and he has declined.

He's still got ~5.5m shares and must have near another 1m piggyback options. At 10-15% of volume, RAC needs to trade circa 50m (>1/4 of SOI) before JC is out. We've only traded ~47m the past 12 months...

Limited buyers and willing sellers is what's keeping RAC in weighted boots. Suspect this changes as anticipation builds around CPACS commencement.

We certainly don't need the constant reminder from @Davisite that there is a large seller, IMO.