Hard to understand Regals position. My guess is that they liked the GLL/VEN merger, mainly because of the $5m cash GLL brought with them. Now that money is not there VEN is running very short of cash.
Regal bought about 183 million VEN in mid May, the proposed GLL/VEN merger was announced mid August. Regal started selling shares around the end of October, the merger was called off mid December.
VEN needs cash and it looks like Regal aren't going to give them any. (unless, like you said, they think they can buy back in lower down the track?)
VEN Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
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