Selling Observation

Their has been much angst relating to the IPD share price, justifiably so. based on these matters I do want to raise a number of points as following 1. Shorting 2. Notice of change of interests of substantial holder and finally 3. potential intent.

1. Shorting:

1.1 3rd August 2023 IPD received notice pursuant to 249D of the Corporations Act 2001 (Cth) from the shareholders holding at least 5% of the votes in the Company, requesting the Company call and arrange to hold a general meeting for the purposes to remove four existing directors of the Company appoint four new directors. Shorting of IPD Initiated one month prior to this letter having been received.

1.2 12th of July, 2023, shortly prior to the letter to remove prior board members. Shortly prior to the removal of old board of Directors a conglobate of share holders formed and initiate Acadia Park Pty Ltd and each of the Parties (together the Substantial Shareholders).

1.3 28th of September Acadia Park Pty Ltd and each of the Parties (together the Substantial Shareholders) cease become a major shareholder. holdings are returned to substantial shareholders, the spilling of the board had been successfully initiated

1.4 1st of March 2024, DJI Announces March 2024 Quarterly Rebalance, IDP is removed from the S&P/ASX 300 Index. Shortly thereafter the stock is shorted heavily

1.5 8th of March 2024 one week after having been removed from the S&P/ASX 300 Index, Paradise Investment Management increase ???? their holding from 7.3% to 8.6%

1.6 8th of March 2024. National Nominees Ltd ACF Australian Ethical Investment Limited decrease their holdings from 6.9% to 5.7%.

Key notes in regards to shorting, their has been no change in Change in substantial holding since the 8th of March, 2023, that equates to no selling from substantial holding for 17 months, yet the shorts intensifies. This is critical I will touch on this further in the conclusion

Trading does not indicate the panic selling of a substantial holder, in fact no selling of any substantial holders since 17 moths ago. Even as recent as today we have seen share price fluctuation but on observation big buys quickly absorbed sale orders/

So what in my own personal opinion is happening

Conclusion:

I am no financial advisor, these are my opinions only. It would seem to be clear that the shorting had three elements, the spilling of the board (cross reference shorting graphs) followed by the removal from the S&P/ASX 300 Index but more importantly, it is my personal belief that there is an averaging down strategy in place, it is not panicked selling

It may be a case of waiting for the averaging down of substantial holders (assumption) until their base costs have been executed and satisfied as per their strategy. But take comfort that their is no selling of holdings from sophisticated holders since 17 months ago and in fact, if it is as assumed, averaging down, the trading today supports such assumptions.

Don't forget, for ever significant sell order and transaction, their is a buyers absorbing the sale.