Perfectly normal behaviour. Considering they participated heavily in the placement to acquire ALO at 36cps, rebalancing was bound to happen at some point.
FWIW, they reduced their holdings from 8.3% to 7.21% (a ~13% reduction in their voting power).
Looking at the pricing achieved for the sales they have done a stellar job for the majority of their members with the deal to help fund the acquisition of AJM's ALO tenements and operations.
Their rebalancing has not prevented PLS from reaching an all time high today.
Ann: December 2020 - Half Year Accounts, page-179
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