Constant selling probably is due to potential break of bank covenants.
31/12/2013:
Bank loan: $226m
Cash: $36.6m
Bank covenants:
Net debt/EBITDA 2.75x
EBITDA/net interest expense 3.0x
Gearing ratio 55.0%
Net debt: $190m /2.75 = $69m EBITDA is required