According to the substantial holder notice last month, Smorgons reduced their holding by 11.2% (not almost half), and it was done at a tidy premium of ~10% to the prevailing share price just before. arguably allowing SLR to get their strategic stake has been good for both the SP and the value of Smorgon's remaining holding. this is hardly a poor reflection on RED's future.
$40 cents club, page-460
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