I think that the market feels the same way regarding the current revenue as opposed to opportunity cost of potential future upside hence the changes in the register. Altor had 10.8m shares at one point and now are at just over 10m so they have sold down a bit, they have also participated heavily in Con Notes etc so maybe that's just a bit of portfolio rebalancing?
The overall percentage owned by the top 20 has increased to over 48% so there must be belief by those holders that opportunity cost isn't too bad with HMD, however the bulk of that increase in tightening of the register is from Citi Nominees sitting in top spot with over 15% held... No substantial shareholding Ann to go with that so maybe that's a private syndicate who all use some financial outfit aligned to Citi... maybe a Melbourne based firm that has been talking up HMD on LinkedIn? Might be a family office that has 15 separate accounts and each holds 1% of HMD as part of a broader tax/risk strategy? HMD is a tiny company so maybe 100 random people who all use a wrap account that is tied up with Citi all happened to buy some HMD in their SMSFs and it pops up as 1 big holding on the top 20?
Anyway, multiple changes to the top of the register usually means that some older holders have lost faith in the current outcomes/directions and have sold to new punters who like/believe the current story. April 18 is the conversion date for the Con Notes and at todays price it would roll them over around 16-17c/share and maybe change some of those holdings in the top 20. I would imagine that HMD are pushing VERY hard to get SOMETHING worth $4m+ over the line in the next week or 2 so as not to dilute capital too much.
personally, I like the alignment with Sheba at the moment in The Ukraine as it is a great humanitarian initiative and also really brings integration to a much closer reality. Should everything work out with Sheba in Tel-Aviv then I would imagine that given HMD's support of the field hospital you could expect a very rapid roll out of HeraCARE through all sorts of interesting and amazing places
all very interesting and dull at the same time.....
HMD Price at posting:
21.3¢ Sentiment: Buy Disclosure: Held
