why pax went down.

If anyone can remember PAX going from 14c in dec 2009 all the way to 3.4c in july 2010 i have found the answer.

17th of dec 2009 - National Nominees held 18.6 mil shares for 6% substantial shareholding.

As at the 30th of September 2010 - shareholding = 0

These shares were dumped on market and noone gets to know at what prices. Nab not only blocks purchases, they facilitated the sell off in my oppinion and the share price shouldn't be where it is now.

NAB says the shares were held on a custodial basis exempting them from announcing any sales in PAx or revealing that they are no longer a substantial shareholder when they do sell off.

They are within listing rules but ffs! the damage has been done.