Well I have had a look at the top 20 list and compared it to the one on Sept 7th. There has been very little change apart from the addition of National nominees at number 6 with 5,083,046 Merril Lynch jumped to position 5 with an increase of 2 million + shares, JJ holdings with 2,694,841, and Equitas with 1,4550,000.
ANZ Nominees has dropped about 4,000,000 and apart from that there is very little change other than Berkeley who has nearly halved their holdngs. This suggests that the placement people of say 30+ million shares have exited stage left.
Apart from National nominees there does not seem to be many big funds attached to our register. So it is interesting to note where all the support has gone and probably explains the share price fall. These guys have not got the return they expected so have sold it into the market.
It would be nice to see some loyalty from some of these bigger groups but obviously they are just in and out for a quick buck.
CQT Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
