Jefferies I really don't know on 7 Sept SSI announced to ASX they had disposed of 173,370,000 shares the company's shareholding in GCN on 7 Sept this was also announced as Sino GL ceasing to become a substantial holder by disposing of 173,368,566 shares
but SSI Nominees hold 240,071,229 on the 26 Sept 2011 and Sino Securities International pty ltd hold 41,690,000
If this can be interpreted as these companies shuffling shares around to maintain their holding, but show liquidity on their books until some of these deals come to fruition, I suppose that's a positive sign. They must believe there will be a pay-off and that they just need to hang in. So far SSI do not appear to have been able to realise the huge profits they hoped for with their lottery and keno licences in China.
Perhaps they're aiming for a Chinese IPTV Keno and lottery channel shipped on a squillion LG smart TVs. Actually you don't even need a smart TV you just need a TV with HDMI input LG Smart TV Upgrade Box ST600 A$170 http://engt.co/gz0HBh
GCN Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
