Ann: Ceasing to be a substantial holder, page-3

it is tricky reading these anns when they do not follow the usual required use of the shares before hand and shares now type of format, but it looks like Challenger still has 220k number of shares left so they may still give those away... I wonder if they shorted the stocks down to 31 or 32 - they would have made a big loss otherwise, buying up in June... round 55 and selling on 5 October at 31c ? can anyone give me a heads up on this - too easy to assume they just took a huge loss, I don't believe it... as I said before, tis why I stay away from managed funds, biggest ripper offers out there.... the fund makes the $ and charges us for losing our $, now if we all hold and only buy up when we can... lol... anyone going to the meeting in Sydney?