What is the ASX rule in respect the timing of these notifications? Must it be done straight away?
Top 20 as of 31/10/16 had Zero at a 5.57% interest. They have shed around 1.4M units in Nov / Dec in order to "manufacture" the notice, if that is the strategy.
Zero would still have 11M plus units on hand with which to work. If thy had been sellers at 18.5 / 19.0 / 19.5, they may have $266K at their disposal from the proceeds.
If they are in fact bullish, then we could see another attempt to shake loose 2-3 M units in the 16-17c range. But right now, the buy side seems to be too robust with other parties sensing an opportunity.
Alternatively, they were just benovelent, wishing to conribute a six figure no to KNL and/or other SH.
