Unfortunately, your analysis of movements in major shareholdings is flawed and misleading. If you compare holdings as at 15 Feb 07 and 12 June 07 you will find the following results:
Jungle Creek - No change G Santalucia - sold 300,000 Citicorp Nominees - sold 1,506,361 Northmead Holdings - bought 20100 ANZ Nominees - bought 2,527,519 Theresa Incoronata - No change Mr Peter John Garrod - sold 1,370,000 SG Australia - No change HSBC Custody Nominees - bought 1,463,535 Frank Cannavo - sold 1,757,000 Mr A Cannavo & F Cannavo - bought 48,000 Tricom Nominees - sold 2,393,541
So major shareholders actually sold a net amount of 3,267,748 shares since February 07.
What's more disturbing for me is that Frank Cannavo, whom I know is good friends with members of the board sold 1,757,000 shares (He however still holds 1,387,925 as a joint holding with Anthony Cannavo). Also note Tricom nominees sold 2,393,541 shares.
Not trying to downramp. Just providing facts to everyone who's in the same position as me. I unfortunately continue to hold and am still deciding whether to dump in more money to exercise my options or to just sell my options at a huge loss. Learnt my lesson. Never trust anyone no matter how reliable you think the source may be.
FXR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
