I have been told in the past it is the bloke in WA, Global Energy Holdings with 32,000,000 shares (3.17%) and the eigth largest holder who tried to take over EEG half a dozen years ago. He bought in at a few cents and regularly dumps shares, especially at close below the daily low, only to re-accumulate so there is no need for an update in significant holder interest statements. He rinses and repeats and makes a margin on the churn.
Alex and prior management are aware of his destructive behaviour but nothing they can do when light hands sell into his strategy. More small holders have an opportunity to take advantage of the dumping and accumulate at a discount to fair value.
EEG Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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