Ann: Notification of Change in Substantial Holdin, page-9

re: Ann: Notification of Change in Substantia... Nominees are usually the companies used by investment banks to hold shares on behalf of their clients. This type of company usually hold securities for a number of shareholders.

The issue for other shareholders is that the investment bank takes a view on a stock, and then buys or sells in large quanties of shares, according to recommendations made by their analysts. This can be great when the investment bank is buying, but bad on the sell side. Especially as JP Morgan now hold 25%+ of PRW shares.