Sorry, I couldn't resist that one, I must have Presidential aspirations. Waiting next announcement to see if there is another cliff.
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Best I have heard from a glazier who has some MPG shares :
Why don't they change the company's name to Metro Non-Performing Glass until they actual start performing!
I suggested he make a request to the NZX to get the code change to MNG - actually, DOG may be more appropriate until such time the sp gets back above IPO level.
Question: pg 72 of annual report lists top 20 shareholders, but then lists substantial shareholders on the next page. What is the difference and why are substantial shareholders not shown on the top 20 list?
Supplementary question: Which of the shareholders listed have “stoploss” triggers such as exit from the nzx50, etc, which of course will tell us if we’re at the top or bottom of the cliff.
Of course this list may/will have substantially changed over the past 9 months...
I didn't check the report (i.e. this is a generic response), but in general are "substantial shareholders" shareholders who hold more than 5% of all shares. For this exercise will be holdings of the same person eligible to vote but spread over several holdings be added up (e.g. you might hold some of your shares personally, some through a family trust you are controlling and some through a company you are director of and some more through a company the company you are controlling has purchased).
Some of your substantial shareholders will control several holdings, which together are substantial but on its own may or may not make it into the Top 20 (and in any case have a different name than yours);
Top 20 shareholders are just the top 20 holdings under their legal name, irrespective of who is controlling them ... If you take the example above, than one shareholder might control three of the top 20 holdings.
This is a rhetoric question, isn't it? However - in general are stocks dropping out of an index not falling down a cliff (look e.g. what happened when HLG left the index). There is however likely to be some ripple.
A specific example is that a lot of funds hold there shares through custodians. The custodian becomes a top 20 shareholder but represents many funds. The funds themselves aren't that larger shareholder.
Much was made of MPG going into NZX50 and fund managers like Milford & Harbour building up decent stakes in the company.
So what do posters think the sp will be for all the index funds to get out at close of business today?