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Capital were right behind EWC earlier this year around the Feb presentations and had a direct meeting and another phone conference with them . Since then the person in charge of their Australasian portfolio has changed. This person wanted to establish a new portfolio profile. The shorters were obviously aware of this and facilitated a front running sell down of the stock only to be rewarded with Capital covering their position with their sell down.
Capital did the same with their position in Westfarmers a while ago. The CEO of Westfarmers flue to Singapore personally to talk to them. It made no difference they continued to sell out doing major damage to its shareprice. Last week Westfarmers hit a record high.
Selling out at 15c may appear ludicrous to us ,but to Capital it is just a $14 million transaction with several $ billion under management.
There may be a very short term backlash ,possibly, but it is probably very goog news now they are off the books and congratulations to the subsequent shareholders.
Doc.