Paschal - I'm at a bit of a loss to understand your comment that...

Paschal - I'm at a bit of a loss to understand your comment that CTO is marketed to "buy and hold" mums & dad shareholders. The Top 20 shareholders list (Annual Report 2006, page 40) shows 37% of the company is held by the Top 20, which includes what appears to be 3 Chinese investors (Kok Leong Tan, William Jangsing Lee and Lily Lee) with multi-million dollar parcels (1% or more of the market cap of $250 million), 6 major financial institutions (ANZ, Great Pacific Finance, JP Morgans, Citicorp, Tricom and Westpac) and the balance appear to be Pty Ltd companies or individual multi-million dollar holdings.

There are about 8,200 shareholders, and there is usually brisk trade in the stock - Yahoo finance quotes the average 3-monthly daily turnover of 2.1 million shares, about $1 miilion worth - this has to be day traders, seeing as the stock will vary by 2% daily and up to 10-15% daily if turnover hits 5 million shares a day.

What is your basis for implying that they target mums & dads to buy and hold, apart fronm the share purchase plans, which are open to all shareholders)???

The institutions obviously see it as a long term buy and hold - why would this disadvantage the mums & dads?