The question I think that has been answered is, where did those...

The question I think that has been answered is, where did those shares go from the directors? It was mentioned in the announcement 'a group of new international and local investors'.

45m shares should have made a dent to the T20 in a few placings. But it looks like the sticky holders have been sticky but those 'new' investors only held those shares for a moment.

HSBC is the only insto (I know a few funds that hold shares through HSBC nominees) that has appeared on the list.

So it looks like there aren't that many left still held. And any held are under water, so do the insto sell up and crystallise a loss? Or hold longer term.

You'd hope selling was done for now but I think there are probably lots of retail holders with nervous fingers hovering over the sell button.