AL3 have even stopped reporting their a major shareholder now. They use to proudly that the Perennial owned a fair chunk. Then, likely, what happened was that they started selling and management probably got in touch and tried to convince them not to sell and everything's on track. But it's a little to late when a fund manager has made a decision to sell.
Other people are selling viciously alongside them because they want to get out first and know how many Perennial have left to sell.
It's amazing they have only sold 1% in the last month when there has been so many opportunities to sell more.
Unfortunately, since AL3 isn't interested in communicating to shareholders and believe 'the share price will sort itself out in the long run', the share price may in fact head towards 10c with Perennial having so much left to sell.
It's absolutely ridiculous that management even outsource investor communications, when its a ~20-30M dollar company. Companies that are $400M - $1B on the ASX reply to shareholder inquires all the time and build relationships with shareholders.
AL3 Price at posting:
18.5¢ Sentiment: Hold Disclosure: Not Held
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