crossed sale , page-15

UBS is in the clear as far as I am concerned.

Have done a bit of research and found a substantial shareholder notice dated 21st feb (25.4m ords), and a continuous beneficial ownership through to recently by UBS AG.

I don't believe they have shorted this stock, they have sold a position they partly picked up via a buy order of 17m ords on the 5th october - see form 603 dated 5th Oct 2011, announced on ASX 10th Oct 11.

So no big short position.

Dammit! (Hoped they did short it in some ways from the position of being a bottom picker, as there was some compulsion to buy at some stage.)

There really should be no odour about this IMO - there are many ways a diligent research analyst could have come to a dire conclusion about operations in Kalimantan. Even if not - a downtrend is often a good reason to sell and cut losses.
UBS AG has lost their fair share on this one.