Finance man's opinion: Dave King didn't own his shareholding directly but via a shareholding in Murray Sports which owned 37m shares. The annual report says this is worth 3m shares. It appears that the Murray Sports holding has been transferred into MIH which has then sold/given 6.6m shares to persons outside the Murray Group taking that holding down to 85%. I've not seen anything official which says who gets those shares but presumably it's the non-Murray holders of Murray Sports. I now see King's company has 5.7m of them. What does it mean? Well it would make a takeover easier, as previously a buyer would need to buy Murray Sports - a company with liabilities to the Murray Group. This transaction separates those shares out. Buying Murray's remaining 85% is now a cleaner exercise, and the holder(s) of the 6.6m shares can do what they wish. A takeover would now be easier, but need not be any closer or more real.