new top 20, page-6

Here is a comparison between the Top 20 in the Annual Report and the one released today.

Observations

No 4 & 5 are definitely the Loan to Equity conversion holders - the total of their shares is exactly the new shares issued after the AGM.

Main sellers - Russell Goodman, Gandels and Rubicon Nominees.

Main buyers - this is quite spread - if you take out no's 4 and 5 (which are new shares) then you have about 25m shares moving to non Top 20 holders.

Russell has only sold down one holding - his Rivapark super holding has been substantially maintained .... so may not be sold down (for the time being at least).

If this is the case then I believe that most of the selling has finished. I think we have more day trader types on the books now who may selling if the general market has panic days .... otherwise I'm thinking onwards and upwards. Two weeks or so until the quarterly which should provide the next piece of the puzzle.

sents