Raks Thanks for stepping in and providing some sanity/clarity....

Raks

Thanks for stepping in and providing some sanity/clarity.

The situation regarding Nominee Accounts as per your explanation, is exactly as I understood it to be.

ie Entities can and do sit in Nominee Accounts anonymously for whatever reason they like and for as long as they like.

The substantial share holder notices for Mirvac, Southern Cross Media Group Ltd, and Seek Limited readily demonstrate how the corporate targeting of stocks by entities within Nominees can sometimes work.

The salient point in all of this, is that Cudeco has Nominees on its register with a track history for targeting other stocks as has been demonstrated on the following thread. CLICK HERE

(Refer to posts despatched at 22:43, 10:01 and 11:25

While discussions have revolved around whether it is retail churn or corporate churn following Azure's recommendation to the company (it is actually both with the NOMINEES accounting for about 80%), none of the vocal non-holders seem interested in the elephant itself.

ie The high levels of churn that are destabilizing the Cudeco register.

As a share holder I am vitally interested in the reasons for it. The concerted buying is causing these entities to show up in the Top 30 so serious money is being thrown around. And because of a share price that has trended down, there is a good chance that a lot of the accumulations would have been loss making if dumped back into the market. Smart money doesn't manufacture loss making situations if it can help it.

So why is it occurring, and what is it leading to? IMHO, they are the issues share holders should be concentrating on.

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Raks you mentioned, "Can you answer the missing month query?

And after a thorough check just to make sure, the answer is an adamant "YES".

The figures I quoted in relation to register movements are quite correct. I stand by them and would be most happy to defend them in court if need be.

And yes it is quite surprising that none of the entities who have made it to the Top 30 of the register after the resource announcement, didn't have any impact on the register in the month of July despite histories in May and June. How weird is that, and I for one don't know the reasons why.

For easy reference I am referring to:

FLEET NOMINEES,
COMSEC NOMINEES,
ETRADE NOMINEES,
NETSHARE NOMINEES,
WARBONT NOMINEES, and
WOODROSS NOMINEES


But it gets even weirder which I will explain over the weekend when a certain football match is decided and any celebrations or commiserations are dealt with......

Clarification:
In publishing the data I have aggregated the numbers for each month for each Nominee Entity. Any variances in Opening and Closing positions is because some Nominees have multiple clients with different CHESS registrations and not all of the clients trade each and every month, so aggregate opening and closing numbers can be out of kilter.

In any case, it is the total net buying and the total net selling of clients that is the sole point of interest here.

ie Churn!

At least the company is on to it now and has taken steps to address the issue.

Cheers
Nev