If Wah Nam intend to announce another extension to their...

If Wah Nam intend to announce another extension to their takeover bid, then based on their previous actions, you would have to expect it to happen today or in the next few days (the last one was on 4th March). Perhaps today's selling is an early indication that they will not be announcing any further extensions and their associates are now exiting their positions. I'd certainly like to think so.

If that's correct, it's still only one side of the equation. The question remains: "Who's buying?"