Ann: Sell Down by Forise Investment Sydney, page-53

Do you seriously think that Forise put together a deal to sell 309m of their shares to a bunch of widely dispersed unrelated purchasers?
This would have been a sale to a group, likely working together, who see value in FNT and its assets and think it can be improved by their input to the board.
My take on it is that the Forise man that took a board seat in March was installed there by Forise to ensure that this particular transaction could happen in the way that Forise wanted it to, not because he got inside the boardroom and crapped himself at what he saw. Do you think Forise wasn't fully appraised of what the company and the board were doing at all times anyway, given their shareholding??
I think Forise wanted to free up some capital (and let's face it if they sold down on market, the market would panic), another group saw value and they struck a deal that they all could live with.