Aberdeen standard have sold a bunch of their CDL holdings this year, so seems likely it's them.
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.......more than 30 trading days since purchase.
Ah ... share owners often hide behind "nominees" (banks and similar) who are holding the shares on behalf of a number of their (unnamed) clients. These nominees appear on the share register, but they normally can't sell or buy unless instructed by the owner - and they are very unlikely to do this for several of their clients at the same time.
This is the list of substantial security holders:
Attachment 10885
- and, as you can see here:
Attachment 10886
... there are only 2 holders with more than 2.5 million shares - and there happen to be only two substantial owners (o.k., if you assume that Aberdeen Standard Asia Focus and Aberdeen Standard investments (Asia) Ltd are independent from each other (I don't), than it would be three) .
Do your own maths ;);
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The discount to market tends to indicate someone like a fund manager altering their view on the company and wanting to get out. There isn't sufficient on market liquidity so the broker has found buyers. If this stake has been offered off market for a while it would help explain the recent price weakness while CDL was increasing.
Often that sort of sale can be a precursor to a takeover bid eg MET
Ive been watching the market activity as I have a substantial holding. It looked like an algo may have been operating and there was an attempt to hold the price down.
Lets hope a bid comes in at NTA
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Aberdeen Standard have been a relentless seller for over a year.
Still holding 10,182,794,or 9.6538% I would expect they will keep selling for the foreseeable future.Take care.