There was no more Substantial shareholder notices after the...

There was no more Substantial shareholder notices after the close of play on Friday night, and according to my maths thats 5 full working days since MND's crossing last Friday evening, which is the compliance period to declare increases by existing substantial shareholders or becoming a substantial shareholder.

That leaves me with the conclusion that the balance of MND's holding after Perpetual picked up another 6.6% (PPT now 14.8%) leaves a little over 7%, that has obviously been spread across a number of new and or existing smaller investors. This only serves to build and reinforce more confidence in Norfolk - Goldman Sachs apparently handled the transaction.

I have now moved my position/decision to start accumulating this particular stock while it is still in the lower band of its previous 12 month price range. My own analysis and reasoning along with the recent strong contract wins, Tax credits/refunds imminent (none of these announcements have seen the share price increase to reflect these positive events as yet). The removal of MND as a major shareholder, has now removed my biggest query an uncertainty, as I t was not clear why MND were actually there and what their intentions were. Also other brokerage firms are positive in their commentary on the quality of Norfolk, (I think there is about 5).

In one of the reports I read (I think it was dated mid November some time, said that Norfolk were tendering on in excess of 1.5bl of new work, which is substantial for any company in the industrial and mining services sector.

If anyone has any more information they can add that would be great.