It was interesting wording on the price response to the ASX...

It was interesting wording on the price response to the ASX yesterday.

'(b) Directors may be required to sell their securities in the Company
A number of the Company’s directors have entered into margin lending arrangements to fund the purchase of shares in the Company. Due to the recent fall in the Company’s share price, some lenders may exercise their right to sell Company shares pursuant to these margin lending arrangements.
The directors do not intend to voluntarily sell their shares in the Company and will only sell if required to do so by their margin lenders.'

Judging buy the VWAP price before & after the announcement, it is safe to assume that the shares were sold before the announcement.

It was wonderful for day trading in ABS yesterday & the strong bounce was most likely to be a case of the word out that the margin selling was finished for the day, which created momentum trading and short covering.

Hopefully you people still holding will come out OK from this.