I've seen a great amount of discussion on the Top 20 Shareholder list and the fact that PDN is a tightly held stock. I think I read that 80% of the shares were owned by the Top 20 holders (please advise if I'm wrong). I couldn't find it in the 2011 Annual Report as uploaded on the PDN website.
The fact is, the Top 20 Shareholder lists as published as part of the ASX additional disclosure is at a Nominee level and therefore quite pointless. Shares could be changing hands a million times over within the same Nominee and we wouldn't see it.
Not sure if PDN have ever published the real Top 20 list though?
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