THe PNO top20 is thin. Its our major weakness in keeping management honest and also a stumbling block for any sp run. The share register needs tighening.
I like to see management heavily invested in the top 20. But obviously I like to see them buying on market especially in bad times. No point being top20 if they are all free or discounted shares.
Then I like to see a few indepent major holders in the top20. Holders that aren't afraid to call a spade a spade. I remember a stock BBI/BEPPA that had FRank Lowy and family as a major holder.
That company tried to screw existing holders in a major recapitalisation. Frank spoke up and secured more than 40c per BEPPA holder that had been trading at 7c just prior.
Usually a group like the PNO meeting group would purchase a copy of the share register and contact top/all holders. This group probably still needs to do that, but its less rewarding than if our top20 was a higher percentage.
Kiril on INT threads managed to vote down and change somethings. He was passionate and personally contacted some large shareholders for their support. With them on side he was never going to lose.
David Tweed also buys the register and makes low ball offers to buy your shares.
Cold calling the current top20 would be a good start. Surely nobody is happy with PNO past performances.
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