Thanks for clarifying Richard,
a) Since the amount showing on the Cs is very accurate, I tend to lay the issue on Link in reporting faulty number of RG's shares to Computershare. The amount is only 307 shares so the possibility is that it stuck somewhere during the transition before the interim order kicks in and they are unable to move shares or doing any updates to ASX or CS.
It is not the first time it happened, after a few visits to CS, I realised that Link always updated to ASX first and then they take their time with processing the shares. For example, if Link picked up the form, I think they just updated it to the announcement before even processing it. That's what happened in early January and causing a fiasco back then. But like I said the amount is only 307 shares and doesn't look like that RG is keeping any account with few hundred shares with him.
b) I know the volumes doesn't add up but is your data including Cboe exchange data? I noticed since the 15th of March, the price doesn't drop to 84 cents anymore on market anymore whether it is ASX or Cboe, and I know there are big gap in volumes, and my gut telling me, usually with Morgan Stanley, Citi and Jp Morgan nominee accounts, they usually trade on market. Let assume even if Citi nominee account wanted to help RG (hypothetically), they would still selling on the market because by accepting to the form, those guys pretty much closing their account and also be noticed straight away. How did it become a big gap difference? Who knows? Besides, I don't know any broker either.
For those accounts I mentioned that exited, I suspected that those accounts have accepted to off-market form and their holding on CS's screen is 0 but may be stuck in an escrow or trust account belongs to RG's legal custody or something like that. Besides, if you remember backward, on the 18th March, the same date that take over panel put in the interim order, Kin's posted up another supplementary bidder statement with the form attached to it. 10 days later, 3 accounts exited (Fortuna Investment, Trustum Investment and Navigator Australia exited on the same date). So, I think Link processed the payment on the 28th March and confiscated their shares and putting it in a trust account or so. The issue here are those 3 exited have 274 119 shares with them which is not substantial but still a considerable amount and we don't see that high volumes trading on-market last couple of weeks so the odd of them accepted to the form is very real. Besides, those companies are not smart like institutional nominees account, for someone to sell it on-market, their holding will be moving and slowly reducing or increasing, by suddenly crashed to 0 holding, it may mean Link took it and throw it in an escrow account.
Again, I know the volumes doesn't add up so could be something gone wrong or smelly here. I only hope those 3 companies change their minds or by miracle getting their shares back. Two things I got told at CS is that, up till now, CS is still the centre data hub of Pact's register. Link is just another campaigner who's doing chores for RG and update it to CS. Only when RG gets to 90%, that CS will surrender the job to RG through compulsory acquisition process. Also, another thing, CS confirmed that, CS doesn't provide holder's phone number to anyone, whether it is the bidder or Pact itself due to privacy matter. So, again, Link has approached a bunch of holders via phone call is through unofficial ways of obtaining holder's phone number.
Regardless of those incidents, I think at this stage or till September, unless the big holders giving in, things are safe and sound. It's just bad like you guys said, the ones that accepted earlier to the take over panel's interim order period may not be able to get their shares back after being bullied so bad by those *S*!T%@
Just my idea.
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