response to asx query, page-2

well well....isn't it interesting to get the information straight from LSL.

Here is my interpretation.

1: LSL got sold down stupidly to 0.2 cents from 1.8 cents because a director of Chimera (which ANZ put into administration) so the market assumed LSL would also be put into administration by LSL.

2: ANZ now owns 68% of LSL due to grabbing these directors shares that were on margin loan do to their failings in Chimera.

3: LSL is no effectively a division of ANZ...like it or not....and with 68% of the shares....they will be looking for an off market buyer, a share buy back or will hold.

4: LSL is not related to Chimera except that 2 directors of LSL were also on the board at Chimera.


Its rare the market presents such opportunities, but I had a hunch the market was confused and bought in...I am going to cash out of some other stocks to take a bigger stake in LSL hopefully below 0.4 cents.

LSL was happy trading around 1.8 cents before all of this.

Fear and greed seem solid flavours of the stock market but seriously, I just cant believe the market sold down LSL 90% on information that was just not fact.

LSL is not related to Chimera.

2 directors on LSL are directors on Chimera. Thats all. LSL actually has a nice 3 million in the bank.....up till now..they have even been paying a fully franked dividend of over 1 cent.

I was stupid to only buy a few million....but one has to buffer.

Thanks for clarifying LSL...time to get back on track.