I think Bill Garner is one of the few RAC shareholders in the...

I think Bill Garner is one of the few RAC shareholders in the very fortunate situation to be able to really hedge his bets either way...

• he's no longer officially an insider, so he can significantly reduce his holding without too much being read into it.
• he has enough RAC stock that he can realise a very significant amount of money now to spend on whatever lifestyle, investment or other desires he has, and yet still retain enough to get a huge payoff in the end if RAC achieves all of its goals.

Without knowing anything about Bill's opinions on RACs future, his financial status and future needs, health status or goals in life it's impossible to even guess what his plans for his shareholding are, but regardless of what he thinks RAC's chances of success are, he can have and enjoy a nice bird in the hand now as well as wait for the two in the bush should they come along.

Given life's uncertainties, as well as the market, business and clinical risks that RAC needs to navigate to reach a successful outcome, are there many that wouldn't be doing a similar thing if we were in a such a fortunate situation?