DS/ Smart,It's pretty obvious that the SP has been held within a...

DS/ Smart,
It's pretty obvious that the SP has been held within a range due to the drawdown.
But why has this drawdown taken so long?
RRS/RRL announced the ELF on 27th Jan.
We heard about the 1st drawdown on 15th feb,(13 working days) 3mGBP and 38m shares.
2nd drawdown 16th feb to 25th feb ( 7 working days) 5mGBP and 35.7m shares.
3rd drawdown 26th feb to 21st march (15 working days) 7.255mGBP and 42m shares.
Since 22nd march we have had 13 working days to offload approx 4.745m/say 20p = 19m shares roughly.
Granted the volumes have not been as high as they were in the last couple of months.
Is it possible that Duchess had not sold all their shares from the previous drawdowns and are offloading them now at a higher SP?
The gap between the 2nd and the 3rd DD was only 7 working days to shift 35.7m shares. Bearing in mind we had the Japan disaster during the 3rd DD and that got completed in 15 working days and it had more than twice the number of shares.
Why then is this DD taking so long to complete?