Shares were being sold over a period of time during late 2019 and into 2020.
No doubt this is also who has been selling shares over the last few months as well.
I have previously raised the fact that someone has been selling consistent lots of 1,000,000 shares and that this appeared to happen every time the buy side built up. I thought it strange as it was clearly the same seller to me, yet no substantial shareholder notices has been given.
Now 4 months later a notice is issued!!
This should have been issued 4 months ago, so the market was better informed as to who was selling.
From ASIC Website
Timing for giving notice RG 5.297 The timing for giving a substantial holding notice varies depending on whether the listed entity in respect of which the substantial holder is giving the notice is the subject of a takeover bid. RG 5.298 Where the listed entity is not the subject of a takeover bid, the substantial holding notice must be given within two business days of: (a) the person becoming, or ceasing to be, a substantial holder in the listed entity; or (b) a movement of at least 1% in the person’s substantial holding in the listed entity.
As a venture capital company they would have been well aware of their obligations to keep the market informed, or is it Lindian that hasn't advised the ASX of the information???
Yet another reason to be treading warily and why I am losing faith in this company big time!
LIN Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
