Ann: Change in substantial holding, page-5

This data excites me, confuses me and infuriates me...

Excites me - I have suspected for a few years that Regal is a key player driving the share price each year. There is the usual US summer drive from the company with US sales etc and I believe Regal uses it to its advantage to sell at opportune times and drive the price high. Good on them, making good money for their investors. Do others see substantial holders in other companies selling and buying like this throughout the year? Not sure it happens as much. I feel like if I am right, Regal is always going to protect this investment and get its yearly profit by selling around some the US summer time. I figure, if you cant beat em, join em. If you are committed to a 6 month investment, I believe there is an easy and safe 50% upside from here. As surely, this will go up for the US summer sales cycle and Regal will help ensure this will happen as they will want to sell some shares in profit and make their books look good.

Confuses and infuriates - why are we only seeing a change in substantial holding from them once a year? Surely guidelines would state that it needs to be more timely than this? Just reinforces my view that we just need to join the dots and take advantage of what the big players do

Regal has invested a lot and especially in the smoothwall CR at 55c. So they will be looking for gains well over that.

Just my opinion for the day.