New Zealand Venture Investment Fund informed the ASX on the 23rd of December 2015, that as of 15th of December 2015, it became a major shareholder of MJP. Prior to this transaction, this company did not feature among the top 20 shareholders. This transfer occurred off-market and the 18,420,333 shares were obtained from No 8 Ventures. No details about the financial arrangements regarding this transaction were made public. MJP’s Annual report states that on the 31st of August 2015, No 8 Venture was the 2nd largest shareholder with 46,891,060 shares, or 19.09% of voting rights. It has not been made public how many MJP shares remain with No 8 Venture.
The managing Director of No 8 Ventures is Jenny Morel, who is also a Non-Executive director of Martin Aircraft Company.
Given that this transaction was published on the ASX website, the Commsec website & on Hotcopper, it is unclear why it does not appear on MJP’s own website under INVESTORS/ASX ANNOUNCEMENTS.
Disclaimer:
Although I am a major MJP shareholder and in frequent contact with MJP, I have no direct intention of talking the share price up or down. However, I am extremely interested in what is and/or is not being reported to all shareholders of this company and what might be going on behind the scene.
MJP Price at posting:
64.0¢ Sentiment: Sell Disclosure: Held
