Ann: Ceasing to be a substantial holder, page-17

Baillie Gifford are one of the largest specialist Fund Managers in the world

They manager Themactic, Active, Conservative and Pension funds, of which it can be many different variety of Growth, Blalanced, Stable or Capital Gaurantee and Index Funds

If you happen to be invested in some of the options in Industry Super they will likely be managing a portion of that FOR YOU.

For exsample

You invested 50% in stable and 50% Growth options
X Industry Super might have 10% of each funds mandated to Intermediary who in turn have a portion of that managed by Baillie Gifford

Baillie Gifford would however have very different rules for each lot of the shares. They might have 20 different Stable Strategy for ESG and Growth each, depending if it is for agreesive fund or stable fund.

The portion of NIC allocated to Stable likely have been stopped out
The portion of NIC allocated to Growth could have a BUY order very close to being triggered

Stops and Buys will likely be set daily for every stock they own around the world before the open.
Example
Stable funds have stop loss at 10% drop, of prior day close
Growth funds have stop loss at 20% drop, of prior day close
For the Index Linked Fund they manage, Baillie is selling in direct relation to NIC share Price/Market Cap at close of every night

Nothing sinister, and when NIC stablise and SP is on the upward trajectory it will be Buying again, as mandated for each fund they manage.