Ann: Annual Report to shareholders, page-32

Ohyeah,
Yes as I understand it if you owned 4% and someone closely associated with you owned 1.1% then you’d have to declare.

As for the top 20 different HIN, SRN or whatever and it just goes on the list uncurated.

Then of course the Nominee companies dominate the top of most top 20’s and make them largely a nonsense.

It all makes the SSH notices so much more important. But then who really cares who owns 2% or 3%. In isolation it’s not often even interesting who owns 7 or 8%.

I don’t expect to see a lot of SSH notices, as $24 mm is a bit bite for specialised small cap institution, and they need to be a bit specialised or niche company pickers to go outside the ASX 200 imho. Meanwhile there will be a lot of insto’s hiding in the Nominee Company holdings. We will just never know (or care?).

EL