like you I had orders sitting in at 60c and a small one for 10k at 59c for a week or so in the doubtful hope of picking up a few cheapies. Both got filled yesterday (along with a heap of other June 30 specials right on the bell - better start thinking about how I'm goning to explain THAT to my Bank Manager on Monday, lol)
Appreciated a post from someone yesterday noting that the CBA has released two new sustantial shareholder announcements in the last week or so.
This is really intriguing. As you have probably seen stocko and I have made comment on the sell down by Colonial/CBA of the Colonial shareholding.
As I understand it Colonial were already a substantial holder before they acquired something like 10.6 million shres from ING in January. This didn't result in a shareholder notice but was covered in the newspapers at the time.
Then the following notices have been released.
GREAT SOUTHERN PLANTATIONS LIMITED 2002-06-11 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ Commonwealth Bank of Australia ceased to be a substantial shareholder in Great Southern Plantations Limited on 06/06/2002 GREAT SOUTHERN PLANTATIONS LIMITED 2002-06-18 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ Commonwealth Bank of Australia became a substantial shareholder in Great Southern Plantations Limited on 14/06/2002 with a relevant interest in the issued share capital of 7,971,392 ordinary shares (5.89%).
Then this
GREAT SOUTHERN PLANTATIONS LIMITED 2002-06-20 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ Commonwealth Bank of Australia increased its relevant interest in Great Southern Plantations Limited on 18/06/2002, from 7,971,392 ordinary shares (5.89%) to 16,073,384 ordinary shares (8.05%).
So, what it looks like is CBA has ditched their primary holding after they got entitlement for the DRP and then have bought back the shares on market, explaining the enthusiastic buyer at 62/63/64c for the last few weeks.
Though GTP has traded breifly above 70c large volumes of shares didn't change hands there.
So with the exception of the huge trade on the 6/6 the CBA would have had to be quite active in recent trade.
Anyway, its all speculation. The obvious thing is that they have played a very smart game of lowering their average entry price into GTP.
Most importantly for me is that they continue to be a major shareholder in GTP. I guess it has been a niggling little issue to me as to why they would be bailing out of such an obviously successful and high potential company.
Now we have the answer. They haven't bailed out and that is yet another confirmation as far as I am concerned as to the potential here.
Cheers
GTP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held