Ann: Ceasing to be a substantial holder-KBL.AX, page-6

The notice is from L1 capital and they are the people that have been churning the shares via the placements/notes/conversions etc.

I want to know who bought the shares and how were they traded. The notice states that they disposed of 125m shares and the transactions took place over 2 days (30 and 31 August), yet the on market volume for those two days amounts to less than 50m shares.

I'm assuming the trade was done off market...so why would anyone buy if the the upcoming news was bad and why would L1 sell if the upcoming news is good? I can find a reason why L1 would sell being that there business is churn at a profit but why would anyone buy...that's the real question...