Ann: Change in substantial holding , page-13

Cleo

The Form 604 is from Maple-Brown Abbott Limited.

You say: "MBA are predominately a "manager of managers" rather than a Retail fund, hence their clients tend to be large funds. If I was a Gambler, I would guess at least one of those nominees is acting for REST Super, but that is totally speculative."

Whatever way you cut it there is institutional sell-down. They obviously want to down-size holding of PPX - probably because, as numerous posts have maintained, PPX is grossly overvalued at current prices.

The individual PPX holder has to navel gaze and ask whether to continue to hold while the PPX price drops further towards the calculated value levels given the continuing sell-off by major players.

Overhang in the market is a dangerous thing.