Ann: Completion of Retail Entitlement Offer , page-2

top holders

very approximately

ICF was about 17% now about 29%
HSBC was 13% now 12%
National Nom 10% to 9%
JPM 8% to 9%
Lujeta 3% to 5%
Armco 2.5% to 1.5%

top 20 now hold 75% compared with about 66% previously

ICF must be very keen about the possibilities

I think most retail investors have irrational pessimism through looking at the market price and disregarding the fundamentals