Ann: Investor Presentation - May 2019, page-31

Agree, not attempting to lecture anyone on Stockmarket 101 but I would normally look to sell up to around half a holding by trailing it up with a stop on a good run (say 25%+) so I can capture something but also avoid missing out on that one rain-maker.

I’ve often ploughed that money back into te same stock later on the inevitable sell-downs that follow if I believe in the business. Build my stake, then rinse & repeat.

However for this to work (and be worthwhile) one has to hold enough stock to reap coin from those moves. SP3 has been a smaller position for me, so your point about the possibility of “missing out” is correct for me if I was to sell half at 18c I wouldn’t feel like I had enough stock to hang my hat on if she ran to 50c.