Can't understand your attitude. I don't believe I have ever read...

Can't understand your attitude. I don't believe I have ever read a post of yours that I would consider a ramp (either way), however of late your ADY posts have been decidedly negative.

Saying that after ANZ, the ADY register will have no substantial shareholders is rubbish (or do you mean no substantial institutional SH?).

The Top 20 are:

1 ANZ NOMINEES LIMITED SL CASH INCOME 4SF A/C 187,933,185 18.40
2 ANZ NOMINEES LIMITED CASH INCOME A/C 26,940,541 2.64
3 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 20,393,099 2.00
4 NATIONAL NOMINEES LIMITED 17,688,385 1.73
5 MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED 17,468,271 1.71
6 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED - A/C 2 13,073,884 1.28
7 MR ALFRED GILLILAND 9,361,000 0.92
8 CITICORP NOMINEES PTY LIMITED 8,712,688 0.85
9 FORBAR CUSTODIANS LIMITED FORSYTH BARR LTD-NOMINEE A/C 7,812,370 0.76
10 J P MORGAN NOMINEES AUSTRALIA LIMITED 7,603,305 0.74
11 COMSEC NOMINEES PTY LIMITED 7,078,533 0.69
12 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED-GSCO ECSA 6,047,449 0.59
13 ALGEBRAIC PTY LTD 5,913,917 0.58
14 BARRIOS PTY LTD 5,654,435 0.55
15 G SANDILANDS INVESTMENTS PTY LTD 5,277,311 0.52
16 DSD NOMINEES PTY LTD DSD A/C C/- AUSTRALIAN BUSINESS NOMINEE 5,045,211 0.49
17 WWB INVESTMENTS PTY LTD C/- LIFEFX PTY LTD 4,600,000 0.45
18 MR BRUCE HODGENS MRS BARBARA SUSAN HODGENS 4,558,000 0.45
19 R J BROWN HOLDINGS PTY LTD 4,180,000 0.41
20 FOGBELL NOMINEES PTY LTD 3,953,838 0.39
Total 369,295,422

So even after ANZ sells all its ADY (which is may not as it could sell some of them to its internal units), there would still be some major SH and even some institutional holders.

Not sure where you are coming from, but of course the dust has to settle yet and there could be some major changes to the list.

BTW, the ADY website is worth looking at.