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Atlas Iron's substantial shareholder reduces stake from asset disposal

Atlas recently appointed Chris Els as chief executive officer.
Atlas Iron's substantial shareholder reduces stake from asset disposal
Atlas is the most active on the ASX this morning

Atlas Iron Ltd (ASX:AGO) has received a change of substantial interests from Legg Mason, Inc, Western Asset Management Company and Associates, showing that the group had reduced its position in the company through the disposal of shares.

The group now holds 946 million shares for a 10.21% stake, down from 1.07 billion shares, which was an 11.59% stake.

In morning trade, Atlas shares fell 10.5% to $0.017, on very heavy volume with 49 million shares changing hands.

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