majority of trades are wni to wni, page-5

I'm not sure about that. The buyers are definitely WNI associates so a lot of cash is coming from somewhere.

The sellers though... I have a couple of theories.

1) It's associates of WNI offloading to their mates.
2) It's legitimately funds selling down. What if WNI management to the former directors that they had gotten the funds on side to sell off their BRM shares and that's what caused the directors to roll over.

The nominee funds are the only ones left hold these kinds of numbers bieng traded.
It's going to be close