There can only be three reasons for selling at below the cash...

There can only be three reasons for selling at below the cash value.

(1) the person must raise cash immediately
(2) the person knows something about Leyshon that is not public knowledge and which could adversely affect the share price
(3) the person has lost patience and/or has another investment opportunity which he believes will perform quicker than Leyshon

Leyshon control their news flow very tightly so I would discount (2) above.

I am suprised that relatively small sales can drive the price down so much but I presume that is because the large long term holders are not interested in adding to their positions and the smaller investors are running scared.