top 20 shareholders

Interesting that the Top 20 shows Citicorp, ANZ, Comsec and Merryl Lynch in the Top 6.

From the announcement today :

"The Company had offered the vendor a very fair and reasonable
price that was a mixture of cash, shares and a royalty, with a potential value of $14m which the Board
believed was justifiable to shareholders. Given the technical risk associated with Mt Carbine the
Board’s technical, legal and financial advisors indicated that it was not in the best interests of
shareholders for the Company to increase its offer further by offering an excessive price.”

Given that Kelly talks openly with mug-punters on HC what level of access and input do the Top 6 have?

Is today's market reaction to the news foreseeable?

Had the purchase gone ahead the share price would have gone up sufficiently to cover the purchase price.

How do you know what's in the best interests of shareholders unless you ask them. I'm still waiting for my call. The Top 6 probably had some input.