Garry Crole bought ~ $31k shares on-market.

Turned out the rumours were true. The company is divesting 80% of its Morrisons stake for $40m, and leaving $10.5m of working capital in the business. It looks like a good deal overall.

SEQ is in a trading halt pending an announcement of a partial divestiture.

The murmurs are it is Morrisons. We'll just have to wait and see.

SEQ came out with their 1HFY23 Investor presentation after market close.

The summary is weak top line growth, salved in part by improving margins. The "abnormal" items (flagged previously) however resulted in a weak NPAT result of only $600k for the half. The market, in its infinite wisdom, was already anticipating numbers like this with the shares hurtling towards their 52w lows.

Management is forecasting a much improved second half, so it comes down to how much trust the market places in that prognostication. Given the recent track record though, some jitters won't be surprising in the least.

Overall, this is a thesis-weakening result, though not a thesis-busting one.