Hi Quinmon, One parcel of shares sold today was for 2,271,647...

Hi Quinmon,

One parcel of shares sold today was for 2,271,647 CMIPC shares which exactly matches the RD Catelan Investments holding controlled now by Leanne Catelan. At the last buyback Ray sold this parcel of shares to Zazu Holdings. The Chairman told us in the notice of meeting that Trojan, MMC and Zazu all supported the 63 cent buyback. What he omitted to tell us was that Zazu was controlled by Ray's brother. One of the astute shareholders did a company search and made that information public. Two weeks after the buyback was defeated, RD Catelan Investments controlled at that time by Ray bought the CMIPC shares back from his brother. This is the way they do business.

It seems that Leanne is following a similar path although we do not know who the buyer is. No doubt we will do a company search when we get to hear who the new buyer is particularly if it is advertised that he supports the buyback. Had Leanne and Ray not done this before the buyback meetings they would have been unable to vote their ordinary shares at the joint meeting. Shareholders who hold both classes of shares can vote their ordinary shares against the buyback but not in favour of it at the joint meeting since it is considered that they have a vested interest in the buyback being approved. By selling their Class A shares Ray at the earlier buyback and Leanne at this next one can have their ordinary shares counted when voted in favour of the buyback at the joint meeting. It was the vote restricted to Class A shareholders alone that decided the outcome last time and it should be the same again this time.

I suspect that the other large parcels sold today were the spreading of this Catelan parcel among more than one buyer.

GPASAS