Did some further digging on Nov guys and gals! Very encouraging findings. Here is the annual report showing the top 20 holders.
This represents 80mil shares /115 million on the market. We then have to include what we know has changed since this annual report. A Chinese investor under the name of Chen Xiadi now holds 25 million shares /115 million issued. This means 105million/115million are currently in the hands of big holders, the management team and institutions. Very hard to buy this stock without raising the price significantly because of this (as the smart money knows not sell at these very cheap levels). Our CEO, Peter Cook owns close to 10 million shares himself (under Carangamite) and also an additional 5 million options. The other directors also hold large chunks of shares.
Even at a 50 cent value, we are talking about a company that is worth less than 100million in market capitalisation (all options included and shares to be issued in future). This company has plenty of room to grow and I'm expecting a $1 handle if the January quarterly shows continued revenue growth. GLAH
NOV Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
