declines tse mbl offer, page-8

Hi Shania

I have emailed someone at GRD re. the question of why E*trade and the Co. have such different takes on who the substantial holders are. Haven't had a reply (OK, I was pretty blunt, but how much social nicety to someone I don't know re. a straightforward question is needed?)

Assuming the large holders aren't reducing their holdings, the price fall must be happening on a relatively small proportion of equity. So what is driving it? Margin calls? A general reduction by retail investors in anything that looks remotely risky? Or is there something going on that we're not privy to.

Thanks for the pointer to the prelimary report. Compared with the detail in the presentation on the Annual Report, it's pretty unsatisfying. On my analysis (could well be flawed) they've advanced on some contracts and been knocked out of the running on others. As a shareholder it'd be reassuring (not to mention a damn site easier) if the company provided this info. It's public domain (just tedious to get hold of).