Nevermind, newspapers today say it was a forced margin call. Was so incensed at the thought that he dumped his stock voluntarily, didn't fully consider the possibility it was a margin call. Still, for someone in his position (Manager of Australian ABC centres) it's surprising he is so cash strapped he has to sell off even his small holding in ABC shares. It's assumed management thinks the shares are undervalued since they've been making endless reassuring statements since the share price fall, saying nothing's changed, the half yearly result was "good" -- etc. If he has to sell one of his most promising investments he must be close to losing everything? Unless they have been spinning BS about how great the company is performing.
ABS
a.b.c. learning centres limited
