Kemper Shaw - He's a major shareholder from the start of 2019. He and another party, William Taylor Nominees, each bought 11.4% of the company (approx 36m shares) at 0.04c in the Nov 18 cap raise. They then (after a broker pump) both reduced their holdings in July 2019 (took profit I'd say in the new fin year) but remained major shareholders. Kemper only reduced his holdings slightly to 9.8%, but William Taylor sold theirs down to 6.7%.
I'd say this selling is just simply that he wanted his money back and wanted to get it as close to 0.04c as possible (hence the pump by his broker) and then he's sold enough to put him under the 5% disclosure level. He appears to still hold just over 4% (14.7m shares).
I'm not concerned about this because it fits with the strategies these guys sometimes use. He's used the money for 12 months in IBX and now he's moved on. Good luck to him. He wouldn't have made all that much.
William Taylor Nom's is still holding approx. 21.7m shares (6.7% ownership). We may see a notice from them also or not. But unless they want out completely I don't think the volume will be as large. Hopefully, they only want to get under the 5% level and then it's small volume, if they too are selling.
Hopefully, now the share price may get some traction over the coming months and we'll see more institutional money on the register.
What is somewhat of concern, but also sort of normal, is that the top four major shareholders have all reduced their holdings since Aug 2019. Sure, some of that would be dilution but I don't think it's all that. With the recent raise at 0.02c I'm a bit concerned we are going to head back to the low to mid 2's. Time will tell. This is definitely a longer term hold, as most should be aware by now anyway.
Fun times. DYoR. None of this advice, I take zero responsibility for any of this, and have no idea what I'm doing. Have a lovely weekend.
IBX Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
