I think they can sell either on market, off market or via cross trades.
The interesting thing for me in this announcement is that it looks like on the 1st March, USB AG (the bank) returned BVS stock ("stock returned") that they had borrowed, presumably in order to short. Then USB securities (the broker) goes on some presumably algo based automated trading spree (see the 4 sells for a total of 6 shares at the start of 2nd March). At the end of the day they have offloaded sufficent shares to drop them below a 5% holding in BVS and triggered the 604 notice.
I wonder whether they are trading on their own account or on behalf of a client? Whatever the case it's interesting to see how the big end of town runs their trading strategies. No wonder the BVS sp has been so volatile of late.
BVS Price at posting:
$2.55 Sentiment: Buy Disclosure: Not Held
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