'Based on the index fund's original holdings from when Unilife was first listed on the Russell', if you're not going to bother to get up to date info don't bother insinuating anything when you clearly have just admitted you have no idea how many if any units index's funds currently hold. Given index funds would have incredibly intelligent people with some pretty decent skills behind a calculator you'd think they would have already been out by now as they new Unilife would be removed from the index. Also if they're index funds and Unilife have been removed from the index they would have already been selling down the stock as the funds holding is weighted to the percentage of the index Unilife's Market cap makes up, so basically as the market cap has fallen the index funds positions would have been sold down. In summary your estimate of 500k - 800k is absolutely based on nothing and is a gross miscalculation. Good day sir.
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