Ann: Change of Directors' Interest Notices, page-4

Also happy to take at face value.

The transactions were off-market so the $1.3million question is who may be the buyer? That’s a strategic move and will reveal far more than Director intent.

I’ve been monitoring the price action across the last few week or two, for a colleague wanting to buy in, and I’ve noticed some above retail-sized transactions. Unless it’s an existing holder they’ll be swimming under the mandatory notice requirement so we may not learn til the next Top 20.

Interestingly, Australian Ethical Super sold down their Infigen shares on the same day and freed up a chunk of capital. So, if you don’t believe in coincidence, then it’s possible we were approached as part of a portfolio rebalance.