SF, Yes, I noticed the very significant number of FPO’s traded today, namely around 1.1 million in 2 trades. This volume had no influence on the share price, which leads me to believe that it could be the same entity that traded 1.25 million FPO’s on 29/3/07. This also had no influence on the share price.
There’s been some discussion on this forum as to what this is all about, crossed trades or what. My belief is that a particular entity is re-shuffling their portfolio into a position where it will be much more advantageous from a taxation perspective. Eg. to a Super Fund which only attracts 15% tax.
The entity concerned is quite possibly doing so with the expectation of the share price exploding at some point in the near future.
I’m surprised that a change in Substantial Holder notice has not been issued yet.
UMC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
