acv1 announcement, page-13

"Also, given the major selldown of this stock after the last announcement - more than a third of the company's shares were traded, why did we not see an announcment on major shareholder stakes?
"I asked this question at the time but no answer was forthcoming."

The only conclusion that I have been able to reach is that despite all the selling - and buying - no existing shareholder ceased being a substantial holder and no new substantial holder was created in the selloff.

This conclusion is based on the ASX rules, not on any policy of the company.

As far as the present situation is concerned, I do not see present trading patterns as representing any kind of sell down of the stock. Obviously there is also no runup. What this means to me is that the company has been pretty successful in keeping the results of the trials from public view - either way.