Ceasing to be a substantial holder notice from Ubique Asset...

Ceasing to be a substantial holder notice from Ubique Asset Management shows they offloaded about 18mio shares today. (Leaves them with just over 3mio left.). This represents some 75% of the total turnover in MCS today.

Ubique appears to have held these 18mio shares since (at least) Feb 14, meaning they have dropped about $30mio on the holding.

That aside, I do think it is obvious that Ubique wanted to quit regardless of price, and this certainly goes someway to explaining why today's massive price drop did not make sense for several reasons.

All things being equal then there is every chance for MCS to totally reclaim today's loss - albeit as punters take there profits it will take a little time. In my books fair value is (at a minimum) between 15c - 20c