Purely speculative but did a little bit of digging into those two companies Essex Castle Limited and Centralo Limited in the notice.
Centralo owns 100% of the shares in Essex and Trevors owns 100% shares of Essex currently but he used to only own 50% Essex shares up until Feb 2022. There was a change of share structures at that time when 50% of the shares of Essex were transferred to Trevors. And it appears that NEU is the main investment of Essex. The departed shareholder was also a director of Essex appointed back in 1997 and he also resigned as a director around the same time, if not the on the same date, of the share transfer (Trevors was appointed in 1988). Back then, NEU's share price would be around $4 give or take. So 50% of interest in Essex was around at least $7m at the time for NEU alone that Trevors needed to fork out to buy out the other shareholder. Even for a billionaire, he wouldn't have that sorta cash casually lying around. He might need leverage to get the cash for example. It makes perfect sense for him to sell now to get out of the leveraged position etc.
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