top 20 comment, page-39

Excellent post Emissary. The thing that I was not sure was the identity of the individuals behind Narragal Pty.Ltd. Ian Melville Kirwan may be MK's brother from what I am told. I am also told that both FG and MK are gone save for some smaller interests that they continue to hold. I have little doubt that the other Kirwans that you mentioned in your post are also related. I totally agree with you in respect of your comments about the impact on liquidity that few very large shareholders can have on a company. That is not to say that a tightly managed register is not a favourable thing but there are many ways a company can address this beyond the obvious influences of the Top20.

Thanks again for the very informative post.

ciao