That's very reassuring Zzedz.....lol, but I am already aware of the services that Warbont Nominees provides for UBS clients.
My interest is more to do with who the sophisticated investors are that choose the services of Broker Nominee accounts like Warbont Nominees as is the case for UBS clients. Particularly since their true identities remain obscure.
And why do they need to sit behind the anonymity afforded by Nominee company's while churning the daylights out of the stock?
As I previously mentioned, the types of clients who sit in the Nominee Accounts are usually sophisticated investors, not the retail punters who get confused by all of the commentary on Hot Copper.
For instance, in the month of August UBS SECURITIES AUSTRALIA moved 4,975,853 OFF the register and 4,868,411 ONTO the register.
Of those numbers a few smaller retail clients of UBS managed a net movement of 21,380 shares OFF the register and 37,300 shares ON. They are listed quite separately in the trading details for UBS, with their indvidual identities readily available from the register.
It was the sophisticated investors in the Nominee accounts provided by UBS who managed the bulk of the churn, with a massive 4,954,473 shares OFF the register and an equally massive 4,831,111 shares back ON
The bulk of the UBS trades for August were split amongst the following Nominee holders.
Warbont 1: =>3,428,302 OFF, and 3,072,735 ON Warbont 2: =>690,353 OFF and 692,353 ON
UBS Nominees 1: => 408,083 OFF and 389,867 ON UBS Nominees 2: => 100,303 OFF and 43,274 ON
Brispot Nominees => 327,432 OFF and 632,882 ON
Zzedzz, would it be fair to say that based on the UBS figures, that the corporate/sophisticated investor types have more than a passing interest in Cudeco?
And also, Zedzz who is Brispot Nominees who also use UBS's broking services? Where did they come from all of a sudden and who do you think they represent?
Cheers Nev
CDU Price at posting:
$2.06 Sentiment: LT Buy Disclosure: Held
