Your absolutely correct...it would be much more useful knowing exactly which holders are buying/selling. But we don't really have up to date shareholder lists so the broker names are a proxy only. I have found, over the past 30 years in the game, that most instos will buy/sell the majority of their small coy stock through one broker/clearance point. Yes, some will try to hide through other brokers though this is not usually successful and not usually beneficial to the sp in low liquidity issues (such as TPT). The fewer brokers that know yr buying/selling a low liquid stock, the better.
It also helps professional and insto players as we can approach these brokers if we want to take the other side of the trading.
But as I said in my post...I haven'y noticed anything really obvious. Except in the options where Pershing and Commsec dominate the trading which also is not unexpected.
The option underwriting doesn't help TPT's sp. at all until possibly sometime after the x-date. Its a gamble on the part of the U/Wrtrs and doesnt always work out as you pointed with JKA. It does help management who may be concerned that the options may not get exercised. I'm not saying that they are at this stage. But by now, Eve would have been advised that, should the sp be lower than 19-20c by ex date, dont expect the full $7m to drop into your budget. And if the sp is 18c or less, then take up will likely be fairly low (given 2c already paid).
As we have all acknowledged on this site, TPT really doesnt have the liquidity for insto/professionals to get easily 'set' without putting pressure on the sp. By this I mean 5+%. One of the easiest ways to get set is to get a broker to front as the underwriter and get the shortfall. Hell, there was a 20% shortfall in the TPTOA's alone when they were issued way in-the-money! And yes, the brokers and/or instos could, if they thought it worthwhile, keep the SP uncomfortably close to the X price.
The broker/underwriters will get $500k in comm, the instos their target holdings, management their money; everyone's happy. Except the general market who had to watch the SP take a long detour.
As I said, lets not underestimate that 25-30m options (original holders) will need to make a decision. Given the low liquidity some, I believe, are making it now.
Cheers,
TPT Price at posting:
21.0¢ Sentiment: LT Buy Disclosure: Held
