I'm not sure any insto's are buying the ASX300, at least not...

I'm not sure any insto's are buying the ASX300, at least not above the 5% reporting threshold. If one looks at the 'Top 20 SH' list as shown in the Ann Report, and one strips out private holdings and SLR board holdings, none of which are recent purchases, then it does not look like a solid register. I would imagine that a 'stock picker' insto would buy an ASX300 stock if it had substantial prospects for growth or income or M&A, which seems to exclude SLR. The expression that comes to mind is the register is very "open".
What I find fascinating and puzzling is the short sale report shown below. While the gross amount of outstanding short on the 11th October was 0.28%, a fraction of SAR for instance, the level short sold stock sold can reach almost 50% on some days. Now the conspiracists would say this is evidence of some entity, using naked intraday shorting,  pushing the price down so it (they) can accumulate at bargain basement prices, at teh expense of poor retail SH who are having their 'stops' constantly pressured. It appears to me that this simple strategy is working as the SP is not being defended by SLR nor by institutional buying.
Eventually, a base price will be established, as SLR has fundamental value, and it will become tempting to a low shot buyout by an asset stripper. If only the executive and board had some high price / long-dated options to motivate them to defend the SP and be the M&A agent that would magnify the market cap & catapult the stock into the ASX100 like NST which they like to compare themselves too for the purpose of justifying their remuneration packages. But I don't think they care as they will get their fabulous redundancy payout, come what may, which will be bloated by STI and LTI's.  
Like most other long-term holders I would accept a takeover, just to see this board booted out.
Schadenfreude doesn't always result in the rational decision making, but its the only thing on offer from SLR.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0	Date	Gross shorts 1	Issued capital	% Capital shorted 2	Trade volume 3	Shorts as % of volume
1	Mon 16th Oct, 2017	16,616	503,771,434	0.00%	1,791,638	0.93%
2	Fri 13th Oct, 2017	181,370	503,771,434	0.03%	743,838	24.38%
3	Thu 12th Oct, 2017	148,989	503,771,434	0.03%	719,262	20.71%
4	Wed 11th Oct, 2017	42,001	503,771,434	0.00%	1,384,401	3.03%
5	Tue 10th Oct, 2017	140,501	503,771,434	0.02%	701,943	20.02%
6	Mon 9th Oct, 2017	398,744	503,771,434	0.07%	1,411,606	28.25%
7	Fri 6th Oct, 2017	143,119	503,771,434	0.02%	900,641	15.89%
8	Thu 5th Oct, 2017	325,873	503,771,434	0.06%	1,351,516	24.11%
9	Wed 4th Oct, 2017	272,292	503,771,434	0.05%	585,764	46.48%
10	Tue 3rd Oct, 2017	245,845	503,771,434	0.04%	1,762,803	13.95%
11	Mon 2nd Oct, 2017	110,728	503,771,434	0.02%	1,902,322	5.82%
12	Fri 29th Sep, 2017	94,380	503,771,434	0.01%	1,023,858	9.22%
13	Thu 28th Sep, 2017	243,412	503,771,434	0.04%	679,332	35.83%
14	Wed 27th Sep, 2017	91,274	503,771,434	0.01%	1,103,739	8.27%
15	Tue 26th Sep, 2017	76,840	503,771,434	0.01%	1,211,196	6.34%
16	Mon 25th Sep, 2017	285,816	503,771,434	0.05%	2,226,490	12.84%
17	Fri 22nd Sep, 2017	367,611	503,771,434	0.07%	2,231,402	16.47%
18	Thu 21st Sep, 2017	341,509	503,771,434	0.06%	2,575,894	13.26%
19	Wed 20th Sep, 2017	273,649	503,771,434	0.05%	1,082,635	25.28%
20	Tue 19th Sep, 2017	99,424	503,771,434	0.02%	1,869,705	5.32%

¹ Reported gross short sales. ² % Capital reported as short sold (non aggregated). ³ Total stock trade volume.