To be exact.. LUM listed on Thursday, 6 April 2000 and the...

To be exact.. LUM listed on Thursday, 6 April 2000 and the official quotation of the stock commenced on the 12 April 2000. The company retained the maximum allowable subscription of $4,147,500. and had on issue a total of 58, 650,001 shares of which approx. 26 million were tradeable and the balance was held in escrow.
Mr Del Piano held 8.5mil f/p shares (14.49% of the company). KMM, which is run by Mr Del Piano further held just over 7.6mil opt.
As of Sept 2000 almost 75% of the shares & opt in LUM were controlled by less than 27 people. Mr Sala & Del Piano alone conrolled more than 55%.
The company was very tight and people like me invested and made a dollar.
Truth of the matter is - I have down my research and down it well. I got in and out at the right time. People who hold large holdings cannot simply dump all of their stock. If however there are good market rumors to steady the market over a few months then one is able to maximise there return and slowly unload.
I think that u will find that with people like u, nina and others who try and promote the stock actually do these people a favor while they unload.
That has now become apparent in the latest announcement.
My point that i trying to make that u dont get is, if Lum is about to do wild and wonderful things why then would a major player dump? I would guess he has been sitting there for some time unloading and its only because of ASX requirements that its now come to notice.