The shares transferred to Fulida (66.2 million on 19 Sep 2016) are now not subject to the escrow agreement.
Thus, their shares are "freely tradeable" instead of only 1/3 tradeable until Wellard’s audited FY2016 results are released and 2/3 until Wellard’s FY2017 results are released. The same applies to Mauro's WGH Commodities, Land and Transport Pty Ltd (CLT). As such, Wellard is no longer the escrow holder of the shares for Fulida and CLT. So Wellard "ceases to be a substantial holder" .
No general cause for alarm for stock holders, except that Fulida can sell their shares anytime and not wait until 2nd half of 2017. If Fulida has a long term interest in Wellard, which I believe it does (based on shoring up livestock supply and investment growth in Wellard), they should retain their shares.
WLD Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
