This is actually quite an interesting announcement. Anyone who might think this is negative, or a possible vote of no confidence in ASM, think again.
On the 23rd August 2018, these very same people (FIL) announced they had ceased to be a substantial holder in Alkane, almost 3 years to the day. And looking at the announcement, not sure of the average (I’m too lazy to calculate it) but was in the 20-30cent range, and we all know what has happened since then. They sold their ALK shares and forwent a roughly 1000% return!!
These funds often operate in irrational ways, as they have tax obligations and investors to satisfy (Peter Lynch has some great information on this sort of thing).
Nothing to be alarmed this announcement.
Ann: Ceasing to be a substantial holder, page-21
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Last
$1.02 |
Change
0.005(0.50%) |
Mkt cap ! $182.4M | |||
| Open | High | Low | Value | Volume |
| $1.01 | $1.02 | $1.01 | $71.80K | 71.07K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 4752 | $1.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.02 | 4824 | 8 |
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| Last trade - 14.13pm 08/05/2024 (20 minute delay) ? |
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Last
$1.02 |
Change
0.005 ( 0.25 %) |
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| Open | High | Low | Volume | ||
| $1.01 | $1.02 | $1.01 | 7806 | ||
| Last updated 14.03pm 08/05/2024 ? | |||||
| ASM (ASX) Chart |