Bain is no longer substantial so they don't need to tell us what they are doing anymore, they may have been selling the last few weeks, but not so sure.
Legg mason still substantial, they have used Macquarie to sell through previously, so end of each day check if macquarie is active and they haven't been since last change in substantial was released, so Legg Mason has not been selling the last few weeks. Legg Mason selling attacks are very random , I can't put a pattern on them , they just seem to dump 100 mill every now and then regardless of what the share price is really doing.
But key point is 600 million shares is only $15 million, a few funds could walk Legg Mason out of that in a heartbeat if they so wanted. Would not surprise me to one day see Macquarie cross 600 million shares in the market to several buyers and the debt holders are gone.
We need the debt to dissappear as well, but Cliff seems to think its not badly priced debt really and maybe better the devil you know in these still volatile times.
Technically this 2.2/2.4 area is the big support zone, a second chance to get set is how I see it.
AGO Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
