re: Ann: Savcor investor presentation - half ...
Manjapra, The large trade on Friday was a cross trade arranged through the broker. None of the directors have that many shares except the CEO and I don't think he is selling. So I suspect it was another institution deciding to get out like Dexia (holds 1.5M), Execut Trustee (2.3M), HSBC (2.6M) etc. If Wilson HTM did this sort of deal in June it may not have had the same dramatic impact on the SP?
SAV's SP does not appear to react like we would expect of something with good trading depth. (86% of SAV shares are held by top 20 shareholders) Anyone with more than 100,000 shares makes the top 30 shareholders. (It's fairly amazing that <$20,000 can potentially make you a top 30 shareholder!) The demand and supply is not consistent. A lot of recent trading is probably just the same Wilson shares being recycled around by people making or loosing a few cents per share. I think this sort of trading will keep the price down until most shares end up with people willing to sit and wait for the company to improve.
I am going to continue to hold my shares. I beleive that this company has real products/technology and won't be too hard to restructure and turn around and start making consistent profits and dividends in 2010+. (but unless the restructure does something magic, I don't think it will be a quick fix.) Potentially being a top 30 shareholder of a listed ASX coy is making me feel a bit more interested in the shares too!
------- I am not an advisor, you cannot rely on my opinions above.
SAV Price at posting:
13.5¢ Sentiment: None Disclosure: Not Held
