Elm first announced on the 7/12/10 that EMC Investments became a substantial shareholder of 6.4% with 9,619,509 shares.
EMC is a cornerstone and long term shareholder in ELM.
Substantial shareholders have to announce changes in shareholding for movements greater than 1%. EMC Investments has bought 290,000 shares hence that has tipped them over the 8% bracket hence the announcement.
Interestingly, another cornerstone investor Harlequin Investments has also recently increased their holding as announced on the 11/3/14. Harlequin first became a substantial shareholder in ELM as announced on the 27/11/09.
To see the long term, substantial shareholders buying is very encouraging.
K2P Price at posting:
21.0¢ Sentiment: None Disclosure: Held
