Zero chance Lederer is selling. They are heavily invested at 60c ( buying out ENNs holdings in entirety) and at 58c ( the last CR.). Based on announcements they are very supportive of ECF and will also have a role in making recommendations re fund investment decisions. Lederer have also stated they view the future of commercial office investment space favourably. One thing that comes to mind is due the last CR, one substantial holder that did not participate in the CR was effectively diluted such that they fell below the 5% substantial holding level. Check past substantial shareholder notices. If they were now selling then they would not need to advise the market, due being a little under the 5% limit. Thats all I can think of at the moment as a possibility but we would not know until the company advises the current Top 20 which may not be until the next Annual Report.
ECF Price at posting:
53.5¢ Sentiment: Buy Disclosure: Held
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