Each NWH Annual Report contains shareholder information including:
- the number of holders by share range;
- the number of shares held by share range; and
- the Top20 shareholdings.
This allows a 'snapshot' analysis of NWH based on shareholder information as at 27/07/2017, 24/07/2018 and 26/07/2019. The 2020 Annual Report will include post-BGC acquisition shareholder information and I will update when available.
1 NWH Distribution of shareholders - number of holders
Over the three snapshots, some key points are:
- the number of holders has fallen from 6,247 to 4.441 (-28.9%);
- as a comparison, Carnarvon (on the mouth of the Gascoyne River in WA) has a population of 4,426 [2016 Census];
- unmarketable parcels have fallen from 990 to 371 (-62.5%);
- the fall in the number of holders has been broadly consistent across each share range, with the exceptions being those holders with
- the old '257 Club' (ie those holders with more than 100,000 shares but not in the Top20) has shrunk to the cosier '158 Club'; and
- the actual number of individual holders may currently be less than 4,441 given many holders (including me) hold NWH shares in both an SMSF as well as personally.
2 NWH Distribution of shareholders - number of ordinary shares
Over the three snapshots, some key points are:
- the number of issued shares has increased by ~54.1m (+16.8%), which were allocated to Golding Placement (68.0%), Golding SPP (13.6%) and Performance Rights (18.4%);
- however, this net increase of ~54.1m shares masks significant changes by share range;
- those holders with >10,000 shares currently hold 97.6% of the issued shares (initially 95.3%);
- Top20 shareholders currently hold 76.7% of the issued shares (up from 53.0%);
- the other two major share ranges ('10,001-100,000' and '>100,000-Other') now comprise 8.26% (down from 17.7%) and 12.7% (down from 24.7%) respectively (as shown in the plot);
- alternatively, this net increase of ~54.1m shares has been distributed to Top20 (+117.7m shares) and 'All other holders' (-63.6m);
- 'All other holders' held 151.3m shares at 27/7/2017 so have been net sellers of 63.6m shares (42% of their shares).
Any comments and/or interpretations welcome!
PS The Appendix 3B changes in issued shares are detailed below (up to early January, 2020 which includes BGC acquisition).
(20min delay)