Ann: Ceasing to be a substantial holder, page-34

MI,
It cant be an overhang of shares for sale as he has not declared his intent to sell in total. Based on your logic "ïf he sells" would mean that there is an overhang of all listed shares, 678M, because, if everyone sells. An overhang is when a major holder has declared their hand for whatever reason, he hasn't.

Agree entirely with the ACV/CR, as I stated in a prior post.

There are several ironies at the moment, when the share price first ripped it was on the back of, and not limited to:
BS buy in.
Potential Defence contracts.
Now BS has lightened his holdings and a defence contract announcement could be made in the next 6 weeks, according to the HY.