Perennial had ~61m shares remaining (~7.7% of total shares) after they sold down a ~3% on the 18th of April
If I had to hazzard a guess, it seems they have totally sold out at 7c (~$4.3m for total block trade). The buyer was Somers last time, but I thought they were restricted from a further purchase without a formal takeover bid (although perhaps there are special circumstances).
We should see a substantial change notice whoever the buyer/seller is given the ~7.5% change and perhaps that might provide some insight into what is happening in the background with this large shareholders (at 56m MC and ~10m in annual profits in 'steady state' mode it seems like a decent option for a cashed up acquirer in the same space....although not sure there is anyone in the fintech space that is 'cashed up')
MME Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held
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