Ann: Annual Report to Shareholders, page-26

Hi h00ts,

I have tried to find some leads in the Share Register, but I was unable to see where up to 12 million shares have been distributed. or who could  hold them.

There are too many shareholders with Nominee Accounts outside the top 20 . The missing shares and who holds them remains a mystery to me.  It seems any holdersl are free from reporting holdings to the ASX so distribution has been cleverly done.

From what I could gather most ordinary retail shareholders are soldiering on. It is the Nominee Accounts where some movement seems to have taken place.

Concerning the poor CDU share price, it appears that  some investors are looking to pick up some cheap shares with a little tree-shaking each day. Perhaps,  there is a bigger operator with deep pockets in the market with a liking for Rocklands.

With a likely listing on the Hong Kong Exchange, CuDeco may go private with the Share Register. There is the office at Southport for the ASX , and the Hong Kong office for Asia.

Time will tell.

cheers,

Max