Ann: Change in Substantial Shareholding - F Richmond, page-13

Not surprised to see the market take a positive view of this development. It's like a triple-whammy of good news for CNW. The huge shareholding of Frank and the presumption he wanted to offload more was like a grey cloud hovering over the share price. That is now largely gone. Frank may hold onto what shares he has left or dispose of them however he chooses. But it's not such a huge holding now that it should cast a pall over the market.
On top of that, we have management stepping up to take on a significant portion of those shares - stumping up their own cash to back the company. That's something I always like to see - and bodes well for where management clearly believe the share price is heading: north.
And then there is the worry some had that Frank's large shareholding could be snapped up by a predator looking to build a stake towards a cheap takeover of CNW. That's pretty much kaput too.
My only regret is that I don't have a lot of spare cash at the moment to be upping my own stake. Perhaps after today's spike the share price will drift down again and allow me to fix that. But long term I can only see this heading upward, and I'm really not sure where it might stop.