13% sell down of total holding. Not a lot really. I've been in a position before where I've had to sell good investments when I didn't want to but my situation required me to do so.
Likely these shares will be returned on performance based outcomes so perhaps this is a case of selling when not wanting to while knowing these shares would be recovered in the near future when milestones are met.
It's all a guess whatever you read or think. No way to know for sure and it doesn't really matter now, it's already happened.
Ann: Change in substantial holding - Mankar, page-79
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