He sold it over the last few days.
4 June 2018
1. 9,500,000 ordinary shares off-market (not on market)
2. 2,460,634 ordinary shares on-market
3. 5,019,525 ordinary shares on-market
5 June 2018
4. 9,519,841 ordinary shares on-market
6 June 2018
5. 6,000,000 ordinary shares on-market
Today's sales are not him but panic selling on the announcement.
This is not the first time Klaus has sold and has deservedly taken lots of flak over it. It was doom and gloom last time also but did eventually go to a new high.
'AVZ Minerals chairman Klaus Eckhof says there’s no secret behind his big share sell-down two weeks ago: he wanted to take a profit.
Mr Eckhof caused outrage among some AVZ shareholders last week after selling more than a quarter of his stake — just before the explorer unveiled what could be the world’s largest lithium deposit in the Democratic Republic of Congo.
AVZ’s share price has since lost 31 per cent to reach 10.5c — though the shares are up spectacularly for the year.
After spending five years in the doldrums around 1c, AVZ shares have traded as high as 17.5c this year.
Mr Eckhof’s sale of 25 million AVZ shares at an average of 15.5c meant he ceased to be a substantial shareholder.
Mr Eckhof told * it was simply time to take some profits after leading AVZ for four years.
“If the share price is up 3000 per cent, why wouldn’t you take some profit at some point?” he said.'
https://unauthorised investment adv...hof-speaks-out-about-his-25m-share-sell-down/
I'm not going to recommend any course of action for anyone. It's up to the individual. Personally, I'm holding or various reasons but everyone really needs to weight everything up and make their own decision. I don't believe Klaus knows some something bad and is escaping with half his shares (probably a pretty insignificant amount to his wealth to trade for his reputation).
(20min delay)