Top 20 Largest Shareholders: For those that like to complete...

Top 20 Largest Shareholders:

For those that like to complete their own research there are some interesting insights when reviewing the new Top 20 Largest Shareholders (refer to the 2023 Annual Report published yesterday).

There are a number of newer additions who are clearly sizeable private investors with the potential capacity as evidenced by their other ASX holdings to make it challenging for Geminder to reach the 90% or even 75% ownership if they choose to pursue such an approach. One new Top 20 holder account is linked to a reasonably sizeable value fund known for influencing takeovers to realise shareholder value.

The Top 20 shareholder list is however based on the share register as at 1 September 2023 so it doesn't provide any insights into trading since the takeover offer. Interestingly, you will also notice that a number of the new private shareholders are also holders of Pro-Pac Packaging (PPG) so I’m unsure if they have any relationship to Geminder.