Ann: Update - Notification of buy-back - CXZ, page-13

HCF held around 90mil (being around 9%) and Westferry held about 50mil based on the most recent substantial holder notices. I don't think there is a leaky ship, and more think one or both of these guys has ridden the share price to around a 50-100% profit and wants to book it before EOFY. The upward cycle seems to have finished for the time being so it's reasonable that they want to book profit (especially when the company is buying back stock and large volume can be offloaded). No cause for concern imo for long term holders, as I think any further decline will be limited due to the buy back (and ultimately if that's at a lower price it's better for us anyway). Once these guys are done unwinding, there should be a period of consolidation and away we go again. P/E is still only 10 without factoring in any organic growth or blue sky.