TER UNDERVALUED FAIR VALUE $1.20, page-782

A Bonython sell down as suggested and the sudden resignation of the Chairman would make sense. And I am far too old to not believe in coincidences or serendipity. If it was something more sinister than a significant shareholder sell down and market sensitive then one could reasonably expect some type of disclosure announcement by the company to that effect. If we do not see one before market open today then it adds weight to being a sell down by a major holder in which case the entity will have to disclose shortly. So if thats the case, given Bonython's shareholding, we might see more heavy selling especially if unloading some of that 28c holding. Based on daily trading averages for TER I would say that around 16 million of the shares traded yesterday out of the total 19 million ( ASX + Chi-X) were due to this unloading. As to why sell now with an impending dividend the reasoning could simply be that they have taken a view on the future coal price trend or could be a multiplicity of other financial reasons and in any case whatever the dividend is we all know the share price will fall by that amount if not a bit more when it goes ex-dividend so its a zero sum game at this point of time. My question to myself is do I buy more now or wait till things settle down and/or top-up just after it goes ex-dividend