ZMan
I missed those big volume days. I am presently quite ill.
If Birketu was responsible for a substantial part of the 15,068,087 volume on 17 Nov 2017, they should have had to have put in a change of substantial holder notice. As no notice has appeared, we can only assume the shares went to some other entity. Nor could the shares have gone to one of the other substantial holders by the same logic.
It's a bit soon to tell for the 15,705,305 shares traded on 28 Nov 2017.
The corporations Act is a little vague on when entities have to notify changes of substantial holdings. Most take the clock as starting on the day of the trade but others argue that it only starts when the shares are settled and can be voted.
In any case, the total volume on those two days represents a chunky 7.28% of the shares on issue. Or perhaps it was the same 15 million shares moved through an intermediary.
Were the big trades special crossings? I can only assume that they must have been, otherwise they would have moved the price. In which case, they evidently didn't come from any of the existing substantial holders, otherwise they would have had to notify a change in holding.
Curious indeed.
cheers
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