Ann: Notice of Annual General Meeting/Proxy Form-KNL.AX, page-114

Do you have to short if you have a few million shares in a couple of accounts?

Use 1 to sell to the other to drive price down and then back again?

not much but enough to have some others sell too as they see the price declining...

end game - with knowledge of probable finance deal 70/30 - the 30% is cheaper if you are paying 18 cents a share than 25 cents a share.

ie $90,000,000 for 60KTPA plant 30% =$27 Million as equity.

$27 Million of shares at 25 cents = 108,000,000

$27 Million of shares at 18 cents = 150,000,000

This is one of the reasons having CBA is good in one way - but I don't know if I would describe it as institutional "Support".

Probably need to ask Andrew about that though?

SK60