BBX 0.00% 24.0¢ bbx minerals limited

"Continue to sell"? How do you know they are selling? I would...

  1. 16,523 Posts.
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    "Continue to sell"? How do you know they are selling? I would say they are not selling. Since they are a substantial holder, they must release a "604 Notice of change of interests of substantial holder" if there is a change in their holding. Have they done that recently? No, they have not. There hasn't been a 604 form lodged since the "603 Notice of initial substantial holder" and the "605 Notice of ceasing to be a substantial holder" lodged for the National Philanthropic Trust transaction on 18/12/18.

    https://asic.gov.au/regulatory-resources/forms/forms-folder/604-notice-of-change-of-interests-of-substantial-holder/

    Caveat: if they've been selling and not releasing a 604 then they will have to release it late and they (and possibly BBX) will be hit with a "please explain" from the ASX. Since they are an overseas entity I have no idea how this would affect them, but at the end of the day they have to play nice with the ASX and ASIC, otherwise their holding could be frozen for an investigation, or perhaps even worse.

 
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