These guys last disclosure was in December 2013 - total holdings then was 16.3 Million shares
This announcement is a total sell-down of 12.7 million shares as end of day 21 March. Leaving them with around 3.6 million shares. The last Accorn update was also 21 march and they had only 5 million shares left.
Today and yesterdays volume was over 18 million shares - much more than the remainder of both funds by my maths. So its possible that both Accorn or Contango have finished exiting their position - assuming no one else has started offloading huge quantities
I assume that both funds just aren't happy with the progress, liquidity and debt. Hopefully they don't know anything the market doesn't and the overhang is now out of the way.
TTI Price at posting:
1.6¢ Sentiment: None Disclosure: Held
