analysis of top 20 changes & conclusions, page-41

Nothing too interesting here;

Rank Name No.
1 NATIONAL NOMINEES LIMITED 154,464,092
2 MR ANDREW WINSTON DOYLE 99,644,650
3 MR JAMES MICHAEL O'DWYER 57,011,770
4 TRAVIS REDDY + ELINA REDDY 37,900,794
5 MR KAI LIU 35,000,000
6 CITICORP NOMINEES PTY LIMITED 29,787,161
7 O'DWYER INVESTMENTS PTY LTD 23,687,184
8 DUTCHESS OPPORTUNITY FUND II LP 22,578,022
9 JP MORGAN NOMINEES AUSTRALIA LIMITED 15,050,935
10 ATLANTIC INVESTMENT (AUST) PTY LTD 15,000,000
11 MRS VIRGINIA WARNECKE 14,528,577
12 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 14,308,000
13 MR PAUL JEREMY HAY 13,374,686
14 MR MARK PETER O'BRIEN + MRS LOUISE MARGARET MARTHA O'BRIEN 13,000,000
15 DELPHI SYSTEMS PTY LTD 11,325,243
16 RELGAN & CO PTY LTD 11,250,000
17 MR GORDON MENZIES WILSON 11,032,119
18 MR EDWARD GARNET BUNN 10,000,000
19 MALCO (PNG) LIMITED 10,000,000
20 MANNABURRA INVESTMENT PTY LTD 10,000,000

Change Since Oct
Rank Name Change since Oct
1 NATIONAL NOMINEES LIMITED 3376639
2 MR ANDREW WINSTON DOYLE -6694997
3 MR JAMES MICHAEL O'DWYER 0
4 TRAVIS REDDY + ELINA REDDY 0
5 MR KAI LIU 0
6 CITICORP NOMINEES PTY LIMITED 1500000
7 O'DWYER INVESTMENTS PTY LTD 0
8 DUTCHESS OPPORTUNITY FUND II LP 5500000
9 JP MORGAN NOMINEES AUSTRALIA LIMITED -9665000
10 ATLANTIC INVESTMENT (AUST) PTY LTD 0
11 MRS VIRGINIA WARNECKE -500000
12 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 0
13 MR PAUL JEREMY HAY 2519762
14 MR MARK PETER O'BRIEN + MRS LOUISE MARGARET MARTHA O'BRIEN 3000000
15 DELPHI SYSTEMS PTY LTD 0
16 RELGAN & CO PTY LTD 0
17 MR GORDON MENZIES WILSON 0
18 MR EDWARD GARNET BUNN 0
19 MALCO (PNG) LIMITED 0
20 MANNABURRA INVESTMENT PTY LTD New

The total trade last month was 140m units.

My Observations:

Really very little overall changes in the Top 20, with a net 200,000 increase held in the 20, suggesting to me that the volume was being driven largely by day traders (perhaps who picked up at 0.8c and shot them out at 0.1c for a quick 25% profit) or small shareholders.

AWD has sold 6m units this month but I note he picked up 118,303 of the convertibles. There was an article in SMH in January that suggested that he was swapping stock for convertibles. www.smh.com.au/business/quick-and-tidy-turnaround-for-metal-storm-investor-20100107-lwvm.html So perhaps this is again his strategy.

Dutchess picked up 5.5m. Seems odd, but I am happy to see them holding/acquiring.

Paul Jeremy Hay picked up 2.5m and was a new entrant last month. A new climbing star on the registry?

The O'Brien's picked up 3m.