According to ASIC Regulatory Guide 5, if there's any change of more than 1% for any person(s) that owns more than 5% of company are obliged to submit the Change in Substantial Holding Notice.
Link is here: https://download.asic.gov.au/media/1236706/rg5-published-20-december-2013.pdf
To answer your question, Garner has been selling from 5th to 12th and after the holding has changed by more than 1%, he's obligated to submit the notice.
Even if there's an announcement this week, we would never know whether he would continue selling or hold his current position, until there's a change greater than 1% again and we'll see the next Change in Substantial Holding Notice.
Regardless of whether he continues selling or not, he's an ex-director that no longer works for RAC. Therefore it should not be taken as an indication of the sentiment/confidence of the upcoming news. However, it's seems the general public who doesn't do their due dilligence will assume it's the current BOD that's selling and possibly explain today's slight dip in SP.
Long story short, it's not a big deal.
GLTAH and DYOR
According to ASIC Regulatory Guide 5, if there's any change of...
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$1.94 |
Change
0.055(2.92%) |
Mkt cap ! $330.4M | |||
| Open | High | Low | Value | Volume |
| $1.89 | $1.96 | $1.85 | $333.0K | 174.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3105 | $1.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 7574 | 1 |
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