KLN Depth, page-33

It’s not a case of “owning up”. Myself or other holders are not required to disclose whether we or buying, holding or selling. On this occasion I have disclosed that I have reduced my position to reduce my exposure. On other occasions I have bought and sold without disclosing it on HC.

I increase/decrease my position as circumstances dictate. Right now I don’t see a near-term catalyst for a SP re-rate before we will need to do a CR. I don’t know in what form the CR will be nor do I know how dilutive it will be, therefore I cannot maintain my full position with those unknowns.