Ann: Apiam FY16 Roadshow Presentation-AHX.AX, page-5

The 340k shares weren't really "picked up" in the sense that someone new has come along and invested. That trade is a S3XT. I can't quickly find the ASX definition but if you search for it, you will find their definition somewhere.

It works like this: an XT is a cross trade using the same broker. You will see them all the time. There was one at 10am for 650 shares. If I was buying 650 shares with Commsec and you had a sell order for 1000 also with Commsec, the trade would be marked as a XT because the same broker completed the order. The matching and trade was really executed by Commsec and reported on the ASX.

An S3 is a big version (Tier 3) of the same thing. You would see a S3 where a fund changes beneficial ownership. So say I am a fund manager had 340k of AHX shares in my "Growth Fund" but want to move them to my "Australian Shares" fund. The S3XT is a record of the change of fund and also establishes a buy and sell price but there's no new blood involved. Same thing for example if someone moved a big block of shares into their SMSF.

S3XT trades may or may not mean something to we mere mortals in the long term depending on the strategy of the participant making the change of ownership but they are definitely not "picking up" in the sense of an existing holder exiting and a new holder acquiring on market.

Others can feel free to correct this explanation. It's just my understanding of how they work. I don't pay too much attention to them.