With regards to the 05th July shareholder notice, the holder disclosed a 5.75% holding as of COB 4th July, or 29.38 million shares. Since this notice 12.4 million shares have been sold. Having a read around on the web a disclosure notice is required when the shareholding drops under 5% within 2 days 'after the relevant event occurs'.
0.75% of 510.66 million shares is 3.83 million shares, from the 5th of July to 10th of July 3.889 million shares were sold , so therefore if they are the large seller from thursday/friday last week they would have dropped under the 5% threshold then (as I doubt very much they accounted for every single share sold during the 5th-10th period and hence wouldn't have dropped under till thursday) , so therefore we would expect a notice today.
Naturally it could be anyone else who can't see value in 3 c cash, no debt, free carry exploration, producing wells etc. I'll happily buy this free option, thanks.
ETE Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
