The way im looking at this one, is that if he really was worried about the state of the deal or company then he would have sold alot more than a small portion of his holding.
Why would you only sell a little bit of your holding, lie to the market and keep most of it in the company that you think the Sp will plummet down.
I think he is legit and needed the money for those reasons.
director selling, page-9
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