Not management fault at all. These shares were the original lot...

Not management fault at all. These shares were the original lot decided right back at the listing time and the underwriter/bank that managed the IPO arrange all this with the ASX people. Also some insiders (at least 2 of them) who have resigned could have sold a lot of shares too. The resigned CEO and one of the director held about 26 million shares and we have no idea if they sold. These are the best people (retired/resigned) who know if this company has anything wrong so they would unload without any problem. And if they sell, others who know them well would also sell.