I don’t really follow this notice as Citicorp (nominee vehicle for RHO vendors from memory) had ~10% but this ceasing to be a substantial holder notice says they only sold ~1m shares so they should still have a substantial holding (>5%) even accounting for the placement shares...? Unless I’m misreading it.
Not a great sign given these guys used to own one of the businesses but people sell for lots of reasons and I think they mainly got scrip consideration anyway...will double check.
Ann: Ceasing to be a substantial holder, page-2
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