Brett - I can see how you could interpret the statement that way but it also can be read down as the "relentless selling" was done by M & G and the shorting was done by the hedge funds - the statement is ambiguous at best - When a substantial stockholder lends their stock for shorting they dont ( as far as I am aware ) notify the company of a change in substantial holding as the shares have been loaned not sold - This was the not the case with M & G who made the obligatory ASX change in substantial holder notices every-time their holding reduced by 1% of the total shares on issue as per the listing rules.
CDU Price at posting:
$1.75 Sentiment: None Disclosure: Not Held