That is interesting filing .... these guys are traditionally long term value investors. And really like to support strong management teams. Something in the story must have really changed for them to start selling in size less than 12 months after filing substantial and also being down ~20% on their holding.
Can't help but think that the loss of Boucher as CEO for "personal reasons" (4mths after his contract was extended to a 3 year term), then the surprise resignation of the highly credentialed Jack Perko as Cleanaway MD on 25 Sep 2015 (after just 18mths in the job and less than a month after signing a 2 year retention deal) are suggestive of some lingering skeletons in the TPI closet.
Perhaps a coincidence but the Harris (Oakmark Int) selling commenced on the 29 Sep 2015, 4 days after Perko elected to jump ship ....
TPI Price at posting:
65.0¢ Sentiment: Sell Disclosure: Not Held
