This is from the annual report: Directors’ Interests Director...

This is from the annual report:

Directors’ Interests
Director Shares:

Angus Holt 14,739,957
Peter Delaney 3,501,349
Bruce Andrew 90,000

Top 20 Shareholders, Shares, %

1. Ibsen Pty Ltd 12,014,167 6.48
2. Circadian Technologies Limited 8,285,151 4.47
3. CGS Holdings Pty Ltd 7,000,000 3.77
4. Gralaw Pty Ltd 6,832,228 3.68
5. Mr Alfred Winkelmeier & Mrs Christine Winkelmeier 4,650,000 2.51
6. Dixson Trust Pty Limited 4,476,020 2.41
7. Mr Chris Graham 4,400,000 2.37
8. Carlisle Lavelle Pty Ltd 3,442,695 1.86
9. National Nominees Limited 3,330,000 1.80
10. Ixohoxi Pty Ltd 3,262,277 1.76
11. Mr Peter Maxwell Delaney 3,321,259 1.74
12. Mr Angus Matthew Holt 3,173,659 1.71
13. Mr Vaughan Corps 3,120,000 1.68
14. Semblance Pty Ltd 2,716,667 1.46
15. Harech Pty Ltd 2,602,445 1.40
16. Portorose Pty Ltd 2,141,667 1.15
17. Mr Henry Siwka 1,978,495 1.07
18. Mrs Lila Wymant 1,716,667 0.93
19. Project Management Pty Ltd 1,700,000 0.92
20. Citycastle Pty Ltd 1,666,667 0.90
Top 20 total: 81,740,064 44.07

185,467,439 fully paid ordinary shares

While Angus Holt is the largest shareholder with 14.7M shares he he only has 3.1M listed agains his name in the top 20 shareholders. His other shares must be jointly owned and sit in some of the other top 20 shareholders.

My speculation is that Angus is saving his sizeable investment by doubling down. They've gone to the bank get a 2nd mortgage on their homes in the expectation of quick rewards.

But I won't complain. 5 cents is a fair price and if someone is saving their investment they are saving mine too. So whoever it is I thank them from the bottom of my heart.

Any other theories?