How can it be possible that Groves and his wife sold a further 10 million shares on Wed morning?
If the ABS announcement on wednesday titled 'market update about margin loans' is to be believed, then the directors hold a total of 21,857,289 shares at 2:30 pm Brisbane time.
Based on 'change of directors interest' notices, remaining shares for each of the directors, after their margin calls are:
David Ryan: 0
Martin Kemp: 2,758,465
Le Neve Grove: 6,000,000
Eddie Grove: 12,168,487
------------------------
Total: 20,926,252
So, if a 'further 10 million shares' were disposed by the Grove couple, then at 2:30 pm Sydney time, the directors could not have held 21,857,289 shares.
Unless, either, the 10 million shares were exchanged between directors.
Or
ABS did not report 'directors holding at 2:30 pm' correctly
Or
The language in the announcement says 'entitled' .. it does not say 'holds'. So, the Groves could have sold the 10 million shares on Wed morning.
The numbers do not add up - I admit, I am confused.
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