Because he just sold Piedmont's entire holding of SYA and sold...

Because he just sold Piedmont's entire holding of SYA and sold Atlantic stock last month. They need cash. What that cash is needed for is another matter Aussie.

I'm not saying they are in trouble or not, not at any point have I stated that this is my belief. However, you don't sell your holdings unless you need cash, that's a fact. Whether it is for strategic purposes or to stay afloat we will find out, I'm not naysaying, just stating fact that Piedmont clearly needs the money for something now, otherwise if you believed in the projects that you are heavily invested in, joint ventured with and feel that prices will rebound, why would you not sell at a later point when that holding is worth more again (?) rather than at these lows, unless you need it now or your beliefs have changed...