I am a bit late to the show however, it is not difficult to own shares from overseas. Maybe a little fiddling around at most. If our fearless leaders are using that as an excuse to not owning shares in our company then maybe they shouldn't be running the company at all. It took me 2 minutes to find this:
"Whether you are an Australian expatriate, or an overseas investor, you will generally find it difficult to buy or sell Australian shares when outside Australia - even if living in financial centres such as New York, London, Singapore, Hong Kong or the UAE. Local markets will rarely deal in Australian shares and Australian online share broking accounts normally require you to be either resident in Australia and/or have an Australian bank account.
We offer direct access, via the Inquiry form at the bottom of this page, to licensed Australian stockbrokers who can carry out buy or sell orders and provide share advice. You should note that if you wish to buy Australian shares then you will need to establish an account with an Australian broker and provide proof of identity.
Selling Australian shares from overseas is usually a relatively simple process and can, if all the required information is made available, be completed on the same day an inquiry is made - with proceeds transferred to a nominated Australian or overseas bank account, such as in London or New York."
Needless to say there were a number of links at the bottom to several companies that can arrange this online but I am not trying to advertise a company. Simply show how wrong that assumption of not buying because they are not in Australia is. We can also buy US shares. There are some hurdles regarding tax etc to getting the money back but it is possible in this world market we live in.
My US tax form is valid for 3 years at a time and means I pay 15%. Without the tax form you pay 30%.
So, I guess the question remains, why don't the big boys buy shares?
SAS Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
