Ann: Ceasing to be a substantial holder-1PG.AX, page-11

I agree with you, it is a bad news as common. However, I usually look at in-depth and contrarily, if they were forced to sell, nothing we can do. The good part is they did not sell on-market daily to reduce their holdings; they found a big buyer to take their holdings.
Funds are usually buying at high, selling at low, is not uncommon they are playing their investors' money, only collecting management fees without caring investors' hard earned money.

Personally, I rather focusing on the company's fundamentals, the risk is 1PG's platform were not working and hard to get revenue up, but it seems good so far. The fate of 1PG, probably will be determined over next few quarters.

Market cap of $62m, net cash ATM estimated to be around $38m based on my assessment, so enterprise value is around $24m for world class tech team (ex-Yahoo CTO), big clients (Amazon, Starbucks & Deutsche Bank etc), and $4.8m annual bookings.
A lot of other ASX tech stocks are given much higher enterprise value, ie. RAP, ISX, CVT, BRN, BUD, etc.

I'm still very bullish about 1PG.

All imo and DYOR