Ann: FY18 Earnings Update, page-10

PIE funds management ltd. See the recent ceasing to be a substantial holder notice for VMX. PIE have sold 1.5 million shares in 2018. They tend to trade stocks so were no doubt happy to take profits in the 30-40 cps range.

They did not appear by name in the list of top 20 holders at 17/1/18, but could have been the Citicorp nominees holding of 7.4 million with 5.94% of shares. Selling 1.5 million would get them below 5%, so they would no longer be a substantial holder.