scroeders sell down

The share price had been steadily climbing for a few weeks high 5s to low 8s last week

Now we see where the recent selling has come from .

Schroeders , a fund manager that blocked the appointment of Andrew Price at the EGM , and supported Harry Boon to bring about change has sold 6m shares over the last fe3w weeks

If you look at the volumes , and adding ion the short sdales that equates to almost all of the selling .

How could Schroeders jump ship now , when they supported harry Boon when the stock was 12c to stay on

Harry Boon , (not that I am a fan ) has done far more than anyone expected since the EGM , The sale of italy, South Africa, US , and finally giving Toby the move on are significant change of hearts from the chair.

Basically he has allowed the company to cash up and allow for it to return to profit under a new CEO to be determined

The board has even patched up with Andrew Price recognising that he has the current and future shareholders interests at heart .

Andrew as we know has been spending his own cash to travel Europe and share his ideas with any one that will listen , as has been proven to be the case in many areas

Andrew called for a single marketing function , brands to be consolidated, a closure of the big expenses in the Milton Keynes office, and for less spending more selling focus ...all of which appear to be actioned

Yet Schroeders sell ....one can only question this decision , I cannot understand it , they got all they wanted , yet the professional fund manager thinking in this circumstance is to reuce their holding at a price lower than at the time of the EGM

I do recall they voted on the back of wanting to support Mike mconnell , maybe they are seeing that Mr mconnel $86 comitment compared to theres is out of whack ??

I am happy to continue to hold and buy more on the dips, and look forward to seeing Andrew price finally on the board in September and see the fortunes of this once asx top 100 company returned to some of its past glories

Not that I invest in any managed funds , but prefer direct shares but if i did I would be prefer to have Orbis than Schroeders if this sell down is an indication of their process