In an announcement made to the ASX on Wednesday, but signed off on by company secretary Suzy Watson on Sunday August 28, Mr Grier said Mr Arvanitis had been a valued member of the Estia Board since inception. Related Quotes
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Mr Arvanitis still has a substantial holding in Estia.
His company Aged Services Victoria owns more than 7 per cent of the company.
There has been speculation Mr Arvanitis may have been selling stock but he said on Wednesday morning that he had not been selling nor had his holding in the company been reduced.
Mr Arvanitis said that the banker for his Aged Services Victoria company NAB had no right of call on Estia stock held under Aged Services Victoria.
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EHE Price at posting:
$3.40 Sentiment: Hold Disclosure: Held