AC I agree that PSD is being severely 'squeezed'. Ever since the...

AC I agree that PSD is being severely 'squeezed'. Ever since the Pfizer deal there has been sustained downward pressure and significant accumulation by Top 10 shareholders.

Pre ADS sale Top10 have increased holdings from 65% on 15May to 70% on 29Jun through on market buying. As these shares are held in nominee accounts no notice in change in substantial holdings is required.

The 92 million share (from ADS sale) detailed in the 708A on Friday have all turned up in ANZ Nominee account (No1). Went from 221 million shares on 29Jun to 313 million shares on 6Jul.

In respect to the outstanding 48 million share from the ADS sale it has been indicated that Pfizer has taken them up.

Reply email from Brian Leedman
"Hi XXXX

It is a Claytons holiday as it would seem. The raise is mostly to new investors with the Pfizer component likely to close by the end of the week. The company is in good shape as we have paid off our debt, secured a large investment from our new licensing partner, Pfizer and raised sufficient cash to see us through for the nect 12 to 18 months. I can’t understand the selling. In my view, this is a huge buying opportunity for the medium term investor.
Regards
Brian"

The concentration of shares in the Top10 does not make for a healthy trading stock and it seems to be a determined effort shake small shareholders confidence.
While I am not sure that the sp will be pushed down to 10c, there is certainly no solid support for the stock.