timeline , page-69

Getting back to Nido's timeline. I think a games afoot, and it has been in train for nearly a year

At the end of June 2009 Ward Ferry issued an ASX notice saying they had 86m shares, app 8.24% of the company.

Since then they have been steadily selling on the open market, which has had the effect of keeping the price down, as most commentators here have remarked on frequently.

In very recent times we have been informed Morgan Stanley has working on accumulating 11.3% of the company since February, ie: nearly 119m shares, with the final top up days ago of 74m. No doubt a single hit this time from Ward Ferry, opposed to open market transactions.

I think the differential, 119m shares, minus the contribution from Ward Ferry, was bought on-market from punters at a very right price, and that the pricing regime was influenced somewhat.

It seems to me the two companies may have been working in tandem from the outset, and given that Ward Ferry is an Asia fund, they may be doing it on behalf of yet another company.

In other words, Morgan Stanley is a bag-man for an entity who likes Nido