If you'd actually taken the time to read the company...

If you'd actually taken the time to read the company announcement of 31st August, this 'Ceasing to be a substantial holder' announcement is just a follow-through notice to announce the two original VC companies (Starfish Ventures and Innovation Capital) exiting the register of the company, presumably having met their investment metrics for having successfully funded AD8 from 2007 until now. VCs typically hold for 5 to 10 years, so this selldown is not unsurprising.

Their 34.7% were all taken up by new institutional investors (like Smallco) and existing shareholders, making this selldown to any impartial observer a very successful outcome for sellers and buyers and the company.

I don't know why you keep comparing AD8 to unrelated companies, but your Bill Ackman-wannabe antics are wearing thin without you providing the substantial reasons why you think investing in AD8 is a fool's errand.

In any case, let's revisit your postings on the AD8 thread in 5 years' time (heck, even in a two year's time). I'm willing to eat a humble pie and make a public apology for doubting you on the failure of this company.