There was an in specie distribution of 32 million shares on 2 Nov.
Of those, 16M shares are held by Domenic Carosa who is a director. Lets assume he is not selling and it is the other holders that are trying to offload their 16M.
Since then we have seen sell downs of a few million shares on 15 Nov, 19 Oct and recently on 11 Nov. Hard to tell how much but maybe somewhere between 2 - 5M shares at a time.
Hopefully once the selling is finished this will fly. Be on the look out for another dump of a few million shares around mid December.
CL8 Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
