My best guess would be it is something to do with the Convertible Notes.
With the last profit update in May, it took several weeks before the 3B showed up, but the conversion notice appeared to have been given when the update came through. So I am thinking that another whack have been converted (I'm guessing the holder is Alimold Pty Ltd) and that they will sell down above conversion price.
In total, there can't be more than about another 1.5m to sell, even if they have converted the lot, so if this is conversion-driven, then stock is still pretty limited.
There aren't too many holders with any more than that to sell - the Hooper holdings are all substantial. The only others of any size are the Peachey's.
All in all, if there is a major seller, it seems unlikely to be more than about a months worth of trade in overhang.
LBL Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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