Thought it was timely to start a designated thread for this...

Thought it was timely to start a designated thread for this topic - which appears to be gaining interest from those holders who are trying to understand why the share price is being driven down in a manner which doesn’t seem commensurate with CDY’s current or forecasted performance. Plus, it will hopefully stop other threads from being hijacked by this contentious topic.

I have compared the (what I think is pertinent) following shareholder information from the 2017 & 2018 Annual Reports:

 

Top 20 Listed Shareholders (Note: For purposes of comparing “apples with apples”, I have condensed the 2017 holdings in line with the reverse share split – ie… divided by 20).

·       13 of the top 21 top holders in 2017 were also in the top 20 in 2018 (not incl Maria).

·       9 of those 13 holders increased their holdings, 3 decreased theirs and the other was the same.

·       The remaining 7 of the 2017 top 20 who don’t feature in the 2018 top 20 is probably due to not holding enough shares to qualify for the top 20 – due to the reverse split.

·       There were 7 new additions to the 2018 top 20 (either totally new holders or those with increased holdings). The lowest holder of the 2018 top 20 held 665,277 shares.

·       Maria was 14^th in 2017 – but she doesn’t personally appear in the 2018 top 20.

·       Maria’s latest Director’s Notice (Appendix 3Y…13/9/18) states she held 820,000 “Directly” and 1,016,808 “Indirectly”.

·       7 of the top 20 holders appear to be Nominee/Custodial companies holding a total of approx 14% of the total shares on behalf of 3^rd parties.

·       At least 3 of Maria’s Directors Notices have a fault (404 - File not Found) and cannot be downloaded from the CDY website announcements page.

·       In 2017, 40% of the shareholders (841 holders) controlled 95% of the Company.

·       In 2018, 34% of the shareholders (654 holders) controlled 95% of the Company.

·       In 2018, only 8% of the shareholders (147 holders) controlled 76% of the Company.

·       In 2017, the average share holding per holder was 25,549 shares.

·       In 2018, the average share holding per holder was 42,869 shares.

My initial thoughts…

·       Obviously, the main shareholding of CDY appears to be very stable.

·       Maria’s Direct holding would normally make her 17^th on the 2018 top 20

·       Why isn’t Maria’s Direct shareholding feature in the 2018 top 20?

·       Why would Maria cease having her Direct shares listed under her personal name like in 2017?

·       Would be interesting to learn where ALL Maria’s 1,836,808 shares feature.

·       I still cannot see any business related reason to methodically drive down the SP.

Based on all the above & previous posts, it appears to me that CDY is being prepared for a takeover. Like some others, if this turns out to be the case, I don’t want to meekly roll over…..