My understanding is that the Tulloch shares were free.
They started the company and Dyesol is the second attempt to get it going.
When I say they got their shares free, I mean they did not buy them. They were given to them to recompense them for all the investment and risk they and other private investors took to get to the initial Dyesol float of 20c a share.
Any price they get is full on capital gain. They then have to pay the tax, which means they need to sell more in order to get a net value in cash.
The shares are held in investment vehicles and as such do not quality for capital gains tax discounts.
The Tullochs may be setting up another business or just cashing up to invest in a balanced retirement portfolio. Hopefully they are settling old debts including the $300k loan advance from Dyesol. I lost respect for them when they dragged and dropped the shares out of Gavin's management company and let it go into liquidation (with no assets).
GSL Price at posting:
37.0¢ Sentiment: LT Buy Disclosure: Held
