quick check of fpo holders as of 15 09 2009

Mark hasn't responded so far to me. Anyway, I had a quick check of the Top20 shareholders as of 15/09/2009. The 604 release of TPG testfied that they still hold their whole position of 6,013,665 shares. TPG has a typical grandfathering agreement but HSBC Custody Nominees Australia is the registered holder of this total position. I'm 100% sure know that either the 604 release of TPG and/or the company release as of 15/09/2009 is wrong and misleading because it shows only 2,186,802 shares held by HSBC Custody Australia Nominees, a difference of 3,826,863 shares.
The position of TPG Offshore has been held by HSBC Custody Nominees as well according to the 603 form released in 2007 but such a position could not be identified and might be included in one of the other Nominees accounts (like National or Citicorp).

While checking the other Top20 holders (Mark 6,327,500m shares, David 1,237,500 shares, Julian, 450,000 shares and some other long termers like Ambrose, Tantalo, Jean Claude, Yew) I found a very interesting new entry with round about 1 mln shares - Cadex Petroleum Pty. This company is controlled by John Tarrant who was the largest shareholder in PDN back in July 2003 with 3.75 mln shares. His company Balmain Resources farmed out the Malawian Kayelekera property the PDN and John is said to be one of the most succesful resource investors. I mean this guy should know much more about investing in Africa than all of us together.

Another intersting new entry is Argil Pty, a JV of Ernst&Young SA and Worldwide Africa Investment Holding a certain type of BEE investor throughout Africa. In this respect GBE seems to be "kosher" in terms of an ethical behaviour of the company in Malawi.

Big sellers within the last year had been Shaun Waters with 1.6m shares, MPC Corp with 1.725m shares and Gene Research 2.732m shares.

The current selling is to my understanding related to a big shareholder or a group of shareholders that want out of the company. Indeed it doesn't make sense to sell through the ASX at least if the SHM article was right that claimed a 100% oversubscription of the latest placement. If it relally hits 21c I will buy another stake in GBE.

Good luck to all long termers.

Lenni