is m&g the seller ?, page-12

Not sure I can subscribe to the M & G selling out theory ? however they could sell down their holding to spook the market.

They have around 21m shares at an average cost of $2.60, - they have to advise ASX every-time their holding varies by 1% which is around 1.5m shares.

They could have indeed sold 1.5 million from prices from $4.50 down to $3.06 and made a nice profit on the stock sold.

But by doing this they have virtually no chance of selling another 18 million shares at an average price above $2.60. So maybe if they have been selling they will simply start buying again at a lower price than they sold for having achieved their initial goal of spooking the market ?

Remember Wayne said they were friendly and in for the long haul so it wont be a good look if they have now changed their mind..

One other possible scenario is having got to 14% they may not be able to go above 15% to get to 19.9% without FIRB approval - as per ocean-wide. ( does nayone no the rules on this topic )

Lots of games being played here /

Cheers hoot