I would use the word "effective" control Salty. You have to take into account their Convertible Bonds and the conversion ratio and potential dilution again if the next round of conversion price lowered due to capital raising due to current cash shortfall. Holdings through nominee accounts of HSBC and JP Morgan may mask the true identity of holders. From company's website as of May 2 (approx 30% of total shareholding ex CB), the substantial shareholders are:
1. M & G INVESTMENT MANAGEMENT LIMITED (Prudential UK Affiliate) 116,779,806 11.37% 2. DEUTSCHE BANK AG 87,409,760 8.51% 3 THE VANGUARD GROUP 86,393,638 8.41%
GXY Price at posting:
6.9¢ Sentiment: None Disclosure: Not Held