AXT are a public co and would need to disclose any sale. Not...

AXT are a public co and would need to disclose any sale.

Not only are they audited, but they must follow continuous disclosure rules.   To publicly note they have still own 7m shares yet may have disposed of some would be a breach of their obligations.

The 7m shares are ALL still held in Roy Nominees I believe.....and a quick Google search will show you that is RBC Europe Securities.

Taken from the LSE Website

"Share ownership has developed in many ways over the past 25 years. Technological advances have made share trading faster, cheaper and simpler. There has also been a shift in the number of people owning shares and the way in which they hold them.
Paper certificates used to be sent to all shareholders and these had to be kept safe as proof of ownership. Once an investor had bought a share, his or her name would appear on the company register, which lists every shareholder in the company.
Nowadays, investors can still choose to receive paper certificates but these are increasingly regarded as cumbersome and outdated by many investors and stockbrokers. Lost certificates are expensive to replace and trading takes longer, which frequently means that investors lose out, as the price at which they thought they were selling a share may not be the price at which a trade is finally settled.
Most individual investors are encouraged therefore to open so-called nominee accounts. Nominee accounts allow investors to own shares without becoming involved in any of the associated administration or paperwork.
Stockbrokers set up nominee accounts, in which they hold shares on behalf of individual investors. Investors are still the legal owners of the shares but their names do not appear on the company’s share register"