Hi Lopez,Barclays has always drifted over the 5% holding and...

Hi Lopez,

Barclays has always drifted over the 5% holding and then sold down just enough to fall back below 5%. I don't know why they like to stay below 5%, guess less reporting requirements (no need to report each time they do share transactions). In the latest note Barclays went from 5.01% back to 4.99%, if they had sold less than the 170k shares (0.02%) they would still be at 5% and still have to report.

And for Barclays this is not the first time this year this has occured, quick check of announcements sees the following :
Becoming : 17/12/2008
Ceasing : 2/3/2009
Becoming : 1/4/2009
Ceasing : 21/4/2009
Becoming : 5/08/2009
Ceasing : 24/08/2009

If you look back to 2008 the same occurs for Barclays throughout that year as well. So it is not like they do not have good form of hanging just below 5%.

So absoilutely nothing to see here. Barclays is a very long term holder in CSL that has always held just below 5%, occassionally drifted over only to go back to just below 5%.

But I did notice that you did not comment on CBA who on the same day as Barclays ceased CBA put out a becomming a substantial holder notice. Now this one is interesting because they do not have the form of Barclays in becoming a substantial holder and I can not see any previous announcment for CBA in 2008-09 timeframe regarding CSL holding. As such, clearly CBA has joined the ranks of large holders in the company, like Barclays, who see value at this current price.

Welcome CBA!

Regards,

Rheags