Ann: Ceasing to be a substantial holder, page-43

MI,
obviously i needed to make myself clearer in the definition of a stock overhang:
"if an institutional investor is known to be trying to offload a large holding, it is said to be overhanging the market. This will tend to depress the share price of the company concerned until all the stock has been sold."
So the market knows of the overhang and you see this in financial markets all the time, it gets reported by financial journalists often.

So when I say BS hasn't declared his hand I dont mean he releases an announcement to the ASX. For it to be an overhang, behind the scenes, however, the market is aware he wants to offload his entire stake. I havn't seen or heard any evidence to this and your position is based on speculation that because he sold some of his holdings he will sell all. He may sell the rest of his stake but at this stage only BS would know.

So until the market knows it is not an overhang.