Actually while their current holdings is 103 million shares, the statement only says they bought 35 million over January and February 2016 to lift their holding above the 5% limit making them a substantial holder. When they purchased the remaining 68 million shares is unclear. They were not in the top twenty holders in the last annual report at 18 March 2015, so it is not clear if the pre-existing holding was held in a nominee account or built up over 2015. Could have been in the placement at 16cps.
Still a renewed vote of confidence. As I commented on the other thread they are clearly not being advised by WhiteNoise!!
SEH Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
