from shaws morning notes, page-24

lionel, I was referring to this part of Jako's penultimate post, ewhich said:

"Someone is selling a lot of stock, and as everyone is saying "why would you sell now ??", so I've been looking at who it might be & why.

Also Sin Tang would not have to lodge a Substantial shareholder notice, as they held less than 5%, so until a new top 20 shareholder list is released I guess we wont know."

ralph, I think people would be selling because this one might be their really profitable share, and with so many red days on the market, it doesn't surprise me if people move into cash. Also, some people might not get much benefit from the franking credits. I know for myself that I have stayed in takeover deals until the end- for several months- and could have probably sold out on the ANN and freed up capital. I think sometimes people choose a quick out and maybe 20% profit, rather than a potewntial 30% profit down the track- opportunity cost and all that. Makes sense, really. Also, the deal is not fully done- better a bird in the hand than two in the bush for some.