change in subst holdings sell by mike carew

Freshtel founder Michael Carew starts to dump.

He held 21M Shares thru MD & MA Pty Ltd as @ 1st Jan 09

Then has sold down 2.5M shares over the last few mths:

12/1 55,000 @ .048
15/1 100,000 @ .059
20/2 160,000 @ .030
4/3 739,499 @ .020
5/3 1,210,000 @ .020
16/3 109,000 @.021
17/3 126,000 @ .017

18.5M Shares balance after these sales

Today trades were 940,000 @ .016

Maybe they were his trades today? If so then 17.5M shares to go, boy FRE SP is in for a hammering if this keeps up.

Makes you wonder though, surely he would have asked the FRE authorised broker Newport Capital to find a buyer for them first and presumably they can not sell them to Tesco and others.

Maybe he has spoken to Newport and they are planning a 1c capital raising. Get them out while you can in the mid 1c mark.

Maybe this means nothing, could be he is just as broke as the rest of us and needs pocket change every now and again, LOL!