There has been quite a bit movement amongst our Top 20...

There has been quite a bit movement amongst our Top 20 shareholders. Below is quick comparison (data extracted from 2017 and 2018 Annual Reports):



(Highlighted in blue are the Top 20 shareholdings of our management and BoD).

Things that I noticed:

• RWH Nominees (these are the shareholdings of previous CFO Robert Hodby) has not sold a share.

• Talisman Capital Pte Ltd dropped out of the Top 20 entirely but I noticed that new addition, LAX Consulting Pte Ltd, holds exactly 100,000 less shares than Talisman. I don't think this is a coincidence, I believe there was either a transfer of shares or the company changed its name.

• Pershing Australia Nominees didn't sell a share between the 2017 and 2018 Annual Reports being released but yet I noticed (courtesy of broker data provided by @DrJames - see below) that Pershing has been aggressively selling stock since 21st September (selling approx. 1.08 million shares):




• HSBC Custody Nominees is the only current Top 20 shareholder to reduce their holding.