Baillie Gifford BG had an 8mm share position in its EM funds as of last reporting date, as far as I can tell. It originally invested in the Thrace natural gas play. Given that they consider themselves socially aware / progressive investors, I don't think they have an interest in wringing the last bits out of mature offshore gas plays, also this was not the strategy they originally invested in. BG's EM funds are coming off a disastrous year as well. It is my belief that they are exiting this position and share price will be sticky until they do.
It's unfortunate as VLE always seems to be swimming upstream! I think today's price and news is the best entry point we've had in weeks, so I just took a small amount of BG's position at $2.70! Let's all help them on their way! In order to move 8mm shares, you can only sell when people are buying.
Its been nice having you along for the ride BG, but good riddance!!
Good luck longs!
CM