If you look at the last 3 substantial share notices by Regal they have been consistent sellers of GSW.
Refer brief summary below:
3rd July ASX notice: 17,767,516 or 14.17% becomes 17,545,338 or 12.60%.
18th August ASX notice: Picked up 1,352,750 shares at 80c in the placement. Sold between 17th July and 15th August 919,811 shares at prices between 97c and 1.17c.
6th October ASX notice: 17,978,277 or 11.56% becomes 16,316,752 or 10.49%. Between 31st August and 4th October sold 1,821,889 shares for prices between 1.12 and 3.16.
That is why I mentioned in my previous note Regal's (investment style) are relatively short term investors and looking at the ASX notices have been consistent sellers of GSW for the majority of the months so far this year.
In my opinion today's price action looked like insto selling and wonder if it was them again.
My question is how much more do they intend to sell in the near term if any at all.?
We will find this out between now and year end if there are anymore ASX substantial shares notices.
If they sell more I might buy more as I am a longer term investor than they are.
GSW Price at posting:
$2.75 Sentiment: Buy Disclosure: Held
