Not at all – Don McLay sold nothing, this is just paper shuffling between the shareholders of Torres Industries Pty Ltd. Read the previous Announcement explaining this.
I had always thought that Don Mclay had about a third share in the Torres Industries Pty Ltd holding of CCP, and I had doubted if he made the decisions to sell down the Torrens shareholding of CCP over the years. Well now we can read more into Don's future transactions, but considering his age and the sheer size of his holdings, I would tend to not place too much weight on his sales, but I would regard any purchases as significant in future. Of the 600,000 shares removed from Torres, 243,840 were added to Don's other holdings, which is 40.64%. I am unsure why 437,197 remain for Torres, but we may learn about this later.
As an aside, other than popular fear of the unknown, and ignorance of the details and dynamics of the PDL-based business, I still cannot see why the CCP SP is so low. Although I have regularly asked, nobody has supplied me with credible reason to suspect the business is in trouble. It could be, but I am yet to see a viable argument to support that possibility. I feel like the fellow who sees a $50 note on the ground, and then does not pick it up, because he reasons that if it were $50, somebody would already have taken it.
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