Ok...The Richardson family has slightly loosened their grip...interesting. And note the address, near Cairns, whereas they were all previously Melbourne. So a bunch of new shareholders have been introduced, presumably by the advisor Sequoia. None of the new shareholders have a stake of more than 5%. Given that the Richardsons (apart from the daughter reinvesting her directors fees) will not take up their entitlement then a further slight dilution of their interests will occur. So is this maybe retirement planning for Ellis. When he bought in the share price was slightly above 5 cps looking at the chart. After seven years it sits around 40% below his entry. Not a good result...but now with a great year or two in prospect and a reduced holding, and a move to North Queensland...well there seems more to come. Anyone know what age he is?
EGL Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
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