Today's broker calls (6/9), page-11

I was referring to 'possible suitors', i.e. a company takeover. They would need to get something like 90% of the shares for a compulsory acquisition and I realise that will never happen because of Toyota Tsusho (unless it is them of course, but that has been discussed elsewhere). I think I was waxing lyrical more than being realistic.

I know selling into a share buy-back is voluntary. I don't necessarily support a share buy-back, I'm not sure they have a very good track record. Happy to be corrected though.

If I were management I'd be wondering which of the significant shareholder nominees is loaning out shares which are being used for shorting the company.


CAPITAL
STRUCTURE

As at 5 March 2018
Ordinary shares issued and outstanding: 260,710,716 (ASX & TSX combined)
Unlisted Performance Rights: 2,092,367
Exercise price $0.00; expiration dates 30 September 2018 – 30 September 2020

SIGNIFICANT SHAREHOLDERS (AS OF 14 AUGUST, 2017)

1	Rank	Name	Units	% of Units
2	1.	JP Morgans Nominees Australia Limited	55,663,401	26.44
3	2.	HSBC Custody Nominees (Australia) Limited	36,132664	17.16
4	3.	Citicorp Nominees Pty Limited	10,670,492	5.07
5	4.	Canadian Register Control	9,141,929	4.34
6	5.	BNP Paribas Noms Pty Ltd (DRP)	7,354,552	3.49
7	6.	National Nominees Limited	5,665,596	2.69
8	7.	Lithium Investors LLC	5,534,739	2.63
9	8.	National Nominees Limited (DB A/C)	5,262,969	2.50
10	9.	Richard Seville & Associates Pty Ltd (The Seville Super Account)	4,976,500	2.36
11	10.	HSBC Custody Nominees (Australia) Limited (A/C 2)	4,763,037	2.26
12	11.	Mr Denis Grenville Hinton & Mrs Roslyn Susanna Hinton	3,042,281	1.45
13	12.	Fairground Pty Ltd	2,387,227	1.13
14	13.	BNP Paribas Nominees Pty Ltd (IB AU Noms Retail Client DRP)	1,889,594	0.90
15	14.	BNP Paribas Nominees Pty Ltd (Agency Leading DRP A/C)	1,726,039	0.82
16	15.	Merrill Lynch (Australia) Nominees Pty Limited	1,615,380	0.77
17	16.	Mr Robert Bruce Woodland & Mrs Erika Woodland (R Woodland Exhibit S/F A/C)	1,572,00	0.75
18	17.	Citicorp Nominees Pty Ltd (Colonial First State Inv A/C)	1,108,100	0.53
19	18.	Aust Executor Trustees Ltd (Charitable Foundation)	1.041,331	0.49
20	19.	MR Denis Grenville Hinton & Mrs Roslyn Susanna Hinton (Hinton Family Super A/C)	932,906	0.44
21	20.	CS Third Nominees Pty Ltd (HSBC Cust Nom Au Ltd 13 A/C)	740,070	0.35

https://www.orocobre.com/investor-centre/capital-structure/