Shares in Blue Arrow owner Corporate Services Group (CSG) fell 16% over two days after a major shareholder sold most of its interest.

The Active Value Capital, through various funds, has been an investor in CSG over the last four years. At the time of CSG's annual report in March, AVC's stake was 25.4%. On 27 July, AVC said it no longer has a "notifiable" interest in CSG, meaning its stake is less than 3%.

AVC is owned by Julian Treger. He was a non-executive director of CSG until March last year. Treger also owns a substantial stake in BNB, of which he is a non-executive director.

CSG said it knew of no reason related to the company's trading performance that would explain the fall in the share price.