Ann: Investor Presentation, page-35

It's a bit surprising, but maybe not that much, that nobody has really commented on the shareholder registry specifically.

There were a few resignations last year, notably Gavin Campion (19.1M shares) Alistair Wardlaw and Ashley Gall.

There was notification that Panchito had reduced their holding to about 8%, strangely this was reported in one shot for a change of holding over a 5 month period. Probably against the regs but never mind, given the number involved they were probably part of the company.

Now Campion : he resigned but how many shares does he own now?
Could be he provided some of the liquidity over the last few days, as few others would have the ammunition for.

It looks like we have had a massive clear out, probably of both the top 2 holders. It smells like there was some factional in fighting. The new contracts they have won are great, but one cuckoo does not a Summer make, so the market will be concentrating on their ability to scale, since that seems to have been an issue in the past. This is a bit ironic, but it makes sense because in order to provide a client with a solution that helps them best, sometimes you have to tune it. How much is this the case with Knosys?

One thing that might be a concern is that if it was so great, and there are 17000 ANZ users, why haven't those guys bought in? Please discuss..