analysis of top 20 changes & conclusions, page-124

First one in a while (January).

April Top 20

1. NATIONAL NOMINEES LIMITED 206,480,560 4.94
2. MR ANDREW WINSTON DOYLE 155,394,660 3.71
3. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 92,189,673 2.2
4. MR MYRON LUKE CAUSE + MRS SANDRA DIANNE CAUSE 82,089,798 1.96
5. PERSHING AUSTRALIA NOMINEES PTY LTD 57,916,667 1.38
6. MR JAMES MICHAEL O'DWYER 57,011,770 1.36
7. ETRADE AUSTRALIA NOMINEES PTY LIMITED 53,900,000 1.29
8. MR GORDON MENZIES WILSON 50,032,119 1.2
9. MR STEPHEN PERROTT 50,000,000 1.2
10. TRAVIS REDDY + ELINA REDDY 47,984,127 1.15
11. CITICORP NOMINEES PTY LIMITED 46,040,318 1.1
12. MR GORDON JOSEPH PEARN + MRS JOELLE MARIE PEARN 45,641,077 1.09
13. DUTCHESS OPPORTUNITY FUND II LP 42,614,736 1.02
14. MR PAUL JEREMY HAY 39,045,218 0.93
15. MR PHILIP GLENN BAILEY 38,890,154 0.93
16. MR JOSEPH WAH MUN CHAN + MRS TSANG KIM CHONG CHAN 36,000,000 0.86
17. MR KAI LIU 35,000,000 0.84
18. BABYROAD PTY LTD 34,859,195 0.83
19. MR MARK PETER + MRS LOUISE MARGARET MARTHA O'BRIEN 30,000,000 0.72
20. MR ANDREW RASZEWSKI 30,000,000 0.72

SOME HUGE CHANGES HERE.

My observations:
Increase in ADRs by 17.5m.
AWD increases by 31.5m. AND has entered the Top 20 of the Secured Notes with 8,057,422 and increased the holding of Interest Bearing Notes to 2,284,192 (up 633,498)
HSBC nominees down by 76.3m. My guess, as was my guess last round, this is ASOF.
Mr & Mrs Cause, new entrants, with a bullet, at 82m
ETrade increased by 22.9m
Gordon Wilson increased by 20m
Stephen Perrott, back after dropping out in November.
Citicorp Nominees up by 1.6m.
Mr & Mrs Pearn, new entrants with 45.6m.
Paul Hay increased by 9.5m.
Philip Baily increased by 5m.
Mr & Mrs Chan increased by 12m.
Mr & Mrs O'Brien increasesd by 5m.
Andrew Raszewski increased by 3m.

Renee van der Laan, Mr & Mrs Landherr, Andrew Penny dropped out, most likely as the minimum required to be in the Top 20 increased to 30m (they has just under that in Jan).

In April, the top 20 held 29.43% (1,231,090,072) of the issued shares in comparison with 33.37% (1,081,424,220) in January 2012. This suggest that, generally, the top 20 is staying committed, but have really fallen behind in acquiring at the same rate as the issuances...and there's a lot more of that to come. I guess we'll see Luxinvest in here in coming months.