Ann: Change in substantial holding, page-7

Unfortunately that's the problem with a thinly traded stock... you're absolutely correct that this Substantial holder has been selling down since May, but don't forget it was also this same holder that was buying up stock until then which increased the price of these shares.

Even at these prices the PE ratio of TRS is 35 times earnings which is way too high, the sector has a PE of 15 times earnings.
So the sell down will continue and the share price will most likely come back down to levels it was before this Substantial Holder started buying up ! .... Very clear to see, as they still need to offload a lot of shares.