Some posts a week or two ago mentioned the re-named Nylex as being one to watch. It is undoubtedly a good recovery story.
Kerry Stokes appears to have been buying - though he has in the past moved down as well as up on the register.
My concern is that on 31 October about 180m of shares will be created from the Mandatory Converting Notes (MCNs) on issue - these punters have lost a lot on what they thought was a yield play - my guess is that most of these new shareholders will not be natural holders of the shares and will therefore be sellers. Conclusion - any price appreciation in this stock is likely to be limited until all this stock overhang has been absorbed - good one to watch but I can't see the price going too far from here over the next year.
Appreciate people's thoughts.
ATR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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