Ann: 2019 AGM Presentation, page-12

I understand your theory regarding big players wanting to get into a stock by forcing it down on light volume. I am not completely ruling that out as a possibility but there are many issues with it: to re-enter the stock, they need the stock to stick around the new low with sizeable turnover so that they can buy back those shares that they sold and put on an even larger position but more importantly they need the market to agree not to buy on the way down. The 600x you see on either side belongs to a market maker who will maintain small exposures whilst trying to make on the spread. These participants do not put on sizeable positions.

Upon reflection, the reasons why I have not bought in the previous few days: I expected some positive surprise in guidance in FY20, however there was none. I think it is perfectly normal to see some selling following this due to the absence of an imminent catalyst combined with a 100% run-up in share price over a short time period of 6 months. Don't overthink it, the recent down move in price is probably due to a fairly large holder sizing down their position or perhaps a speculative fund hacking their position for a loss after betting on an earnings upgrade prior to the AGM.

Don't get me wrong, I am a believer in the company. I have been a long term holder in this stock for over 3 years and still maintain a position. The AGM gave me confidence to persevere with my investment whilst leaning towards putting on more of a position on any short term downticks. Personally, I would like to see the Multix business gone since it sticks out like a bit of a sore thumb amongst their product suite. Let's not kid ourselves, it is definitely not H,W nor B, it is food packaging related. Apart from this, the focus on marketing, R & D and Chinese channels looks promising and the initial traction gained with the Chinese sales is definitely worth sticking around for.