I assume the initial market reaction will be negative - given a major shareholder has sold 5%
However if they don't intend to take the company over - which is unlikely - they now have sold down to a level where SMR will certainly meet the ASX 200 minimum free float requirement of 30% and should be included in the next rebalance.
Paying a dividend as they have just announced plus this likely ASX 200 index inclusion will see serious buying based on how cheap this stock is !
The market will be VERY foolish to think GEAR is an ongoing seller.
IF THEY WANTED TO SELL - on comparables Whitehaven would have paid well north of $7 per SMR share - so not a time to panic !
I feel this is part of the ongoing rerating of SMR
SMR Price at posting:
$4.08 Sentiment: Buy Disclosure: Held
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