I agree. Somers/ Resimac /Thorn and associates used the creep rule to max possible to reach 23%. See below. Must surely be a contender for market play. Nearly all their holding bought at 8c. Perennial has gone, but Regal has 10.7%. Will be interesting to see top 20 list, and the spread of other holders, in 2 weeks time.
MME major shareholders
Perennial on 15 March 2022 had 7.24% (17,218,718) increased to 84,585,083 (11.34%) in the big placement at 8c on 22 May 2023. It did not participate in the smaller 50c raising in Sept 2022. Sold down to 61,911,282 (7.74% ) by 18 April 2024. Then sold all, down to 0%, on 1 May 24, to various buyers including Regal.
Regal acquired 67,984,522 (9.12%) in the 22 May 2023 placement at 8c. Reduced to (8.12%) by 6 Sept 2023. Reduced to 56,790,967 (7.10%) by 29 Feb 2024. Increased to 85,513,099 (10.69%) by 1 May 2024.
Emery (director) had 16.9% = 47.3m at 19 Oct 2022. Took up 50m shares at 8c on 22 May 23 to 97.3m, slightly diluted to 13.1%.
Howes (director) had 18.3% 51.3m. Took up no shares in the May 2022 placement, so diluted to 6.9%.
Somers (including Resimac, Thorn and other associates) held about 2.5m via Thorn, then rose to 148.9m (19.96%) in the 22 May 2023 placement.That would have been diluted to 18.6% because of the 54.3m shares issued on 15 June 23 under the SPP following the institutional placement. That was why it was able to keep buying until 18 April without disclosing a sub sh move through 20.96% until the 20.9m bought by Resimac on 18 April 24.
On 18 April 2024 increased to 183,532,362 (22.94%), including by Resimac buying 20.9m on market on 18 April. Somers and associates have therefore used the max buying capacity allowed under the creep provision, and can’t buy any more until 18 October 2024.
Today, 14/8/24, the major holders are
| | amount | |
|---|
| 1 | Somers and associates | 23.0% | |
|---|
| 2 | Regal | 10.7% | |
|---|
| 3 | Emery (director) | 13.1% | |
|---|
| 4 | Howes (director) | 6.9% | |
|---|
| 5 | | | |
|---|
| 6 | total | 53.7% | |
|---|
Perennial nil and no other substantial shareholders.
(20min delay)