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10:55
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Originally posted by camban:
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This is really getting quite bizarre. I realise these are the US ADRs but rather than institutional investment increasing as a % of shares on issue, it is declining overall. The total value is minimal. I am not seeing strong evidence of institutional holdings increasing in the primary ASX shares either, unless someone has updated data they can post. As a result, the stock is a trading plaything and I have my suspicions that a couple of major longtime holders play here weekly and use it like a cash teller machine. They don’t have to report changes in their substantial holdings up to +/- 1% and so long as they close out each trading day in that range, regardless of the size of the transactions taking place, there’s nothing to formally report.
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You are 100% correct Camban. Management and the board need to lead by example, and I have brought this up with Marc previously about on market purchases by the board. While it appears that directors are getting their (or part there of) remuneration in shares, it wouldn't hurt to show some confidence in the progress of things with some on market purchases by the likes of Marc, Howard and Turnbull. I don't think I've seen an on market purchase from any of of them. Message to board-put your money where your mouth is.
(20min delay)