NAOS, page-12

8+ m done today, someone still shovelling out loads of stock. NAOS and Sandon mention COG in the April updates, expect it is unlikely that it is them in view of their long steadfast holding of COG.
As we get closer to August results we might see some interest although many will wait to see the numbers before thinking of getting into the stock. I think many do not understand the business and the business model.
Have looked at the Top 20 in Annual Report - could be one or more of a several individual or institutional holders have been bailing out to take their money elsewhere. It has been a long time for the business to develop. Recent change in one of the key managers may result in some building of their own finance portfolio. This I feel this change is a positive having spoken with the recently departed person at the AGM.