monster hit, page-46

About 13.3m shares traded in the last two days, pgamble. With 225.5m shares on issue, that's >5% in two days. The trading has looked to me like *real* exchange too- not just churn.

We may not know about any new buying, if people have taken a position of <5%, or if a few owners have taken a position <1% change, which could have happened since the raising, but I reckon we must be moving towards the Top 20% holding close to 70% now. That's just from looking at the AFR etc. On September, 2011, we had 57.45% for the Top 20 (no L1 Capital in there, oddly- now we see they are diluted to zero. They bought their shares under nominee accounts in April 2011:

http://asx.com.au/asxpdf/20110412/pdf/41y0crhv4j2pkh.pdf

I don't understand well the nominee account thing. Anyway, if we get to around 70% of the Top 20, it allows for liquidity, but also solidity, if the funds and individuals seek to hold. % of top shareholders adds a fundamental, imo- it demonstrates faith.

The SP fell a little, but she has been a volatile girl (except when I sold- then she just went up!) I'm still hoping for a little intra-day volatility- just for my selfish desire to get back in at a reasonable level (6.4c- above my initial purchase price, but below today's price). Maybe someone will be charitable. :)