I happened to see that as well. I am not a current holder, but have CNW on page 1 of my watchlist.
I am making a few educated guesses, and could well be off the mark. According to data from the top 20 in last years Annual Report (and information released to the ASX by the company since), there are only about 8 holders with that many shares.
My best guess is that the seller was the owner of Correct Communications, a business acquired by CNW last year.
If so, he has more than doubled his money in the last 6-9 months.
The Appendix 3B announcements state the quotation of new shares has been due to "staff departure". There have been multiple Appendix 3B's, some stating company request, and another stating ASX request as the reason for quotation.
The owner of Correct Communications was appointed Chief Technology Officer of CNW. He did not become a Director of CNW, and had a holding of 4.96% of CNW shares.
I suspect, as I said an educated guess, he may have left the company and has sold some of his holdings.
It will be interesting to see if the company announce anything about this.
CNW Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
