analysis of top 20 changes & conclusions, page-42

December Top 20

Rank Name No. %
1. NATIONAL NOMINEES LIMITED 158,157,532 9.29
2. MR ANDREW WINSTON DOYLE 111,192,862 6.53
3. MR JAMES MICHAEL O'DWYER 57,011,770 3.35
4. MALCO (PNG) LIMITED 50,724,658 2.98
5. TRAVIS REDDY + ELINA REDDY 37,900,794 2.23
6. DUTCHESS OPPORTUNITY FUND II LP 36,114,737 2.12
7. MR KAI LIU 35,000,000 2.06
8. CITICORP NOMINEES PTY LIMITED 29,282,661 1.72
9. O'DWYER INVESTMENTS PTY LTD 23,687,184 1.39
10. MERRILL LYNCH (AUSTRALIA) NOMINEES 16,250,000 0.95
11. ATLANTIC INVESTMENT (AUST) PTY LTD 15,000,000 0.88
12. MRS VIRGINIA WARNECKE 14,528,577 0.85
13. HSBC CUSTODY NOMINEES 14,308,000 0.84
14. MR PAUL JEREMY HAY 13,385,743 0.79
15. MR MARK PETER O'BRIEN + MRS LOUISE MARGARET MARTHA O'BRIEN 13,000,000 0.76
16. RELGAN & CO PTY LTD 11,250,000 0.66
17. MR GORDON MENZIES WILSON 11,032,119 0.65
18. DELPHI SYSTEMS PTY LTD 10,500,000 0.62
19. MR STEPHEN PERROTT 10,500,000 0.62
20. MR EDWARD GARNET BUNN 10,000,000 0.59

Changes of note;
National Nominees (ADRs ?) Up 36m
AWD up 115m - no suprises there given the EGM. Also up 10k in MSTG
Malco up 40m - no suprises there given the EGM
Dutchess Up 13.5m - That's a suprise
Merrill Nominees - New entrant, for whom??
Dephi down 825k
Stephen Perrott - New entrant

Turnover in Dec was 18m in comparison with 140m in Nov. No liquidity in Dec, but which year is there?

Relating back to a previous post, the sellers, bar 2 here, where the little guys, with the big guys being net buyers.