Today UBS nominees registered their holding of just over 5% of the company. They have done this to comply with the ASX 5% rule. As a reputable institution, they will have done this as soon as their holdings reach 5%.
This tells us two things:
- They have been accumulating for their client in small lots (see the list of trades in the announcement pdf).
- Their client wishes to remain anonymous.
It would be reasonable to assume that the client continues to accumulate, given that they bought in small chunks.
Who are they and why are they using nominees?
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