ATM - A2 Milk Corporation Limited

[dingoNZ]

Milford could lose its KS status like hulitch in which case funds will be distributed to default providers. Most would sell a2...too speculative. They wait until success is proven then buy after everyone else has. Xero is at good example. Most bought around the $30 mark

I think you'll find most don't actually own it (XRO)...

[Harrie]

I think you'll find most don't actually own it (XRO)...

Yes that is true but those who did purchased around the late 20's early 30's. Tendency also to follow each other so that performance differentials align more closely given that investors can easily change KS providers and tend to do so based on performance even though this represents around only 5% of savers. Most providers tend to stay away from stocks that don't produce dividends despite "potential future dividends" they will buy after everyone else has.
if the FMA close Milford down as a KS provider I think there will be some wholesale selling of A2mc as this stock is transferred to other providers. Then I would see 40c....sorry

[NT001]

Do we actually know how many ATM shares Milford and the Super Fund each now have? How many of Milford's shares were being held on behalf of the Milford group, how many for the Super Fund and how many in funds created to hold shares on behalf of other investors whom Milford advises. Do we know any of this stuff?

The Super Fund's statement that it has decided "to become the manager of securities previously held for it by Milford Asset Management" does not imply any change of ownership or any intention to sell down those securities, just an interim change of management of them. The same applies to big stakes in other Top-50 NZX companies

If there is going to be any further divestment, at least this will be in a much bigger market than previously, and both Milford and NZSF will presumably be more interested in selling gradually for a decent price rather than just dumping ATM shares on the market at a big loss.

[Xerof]

YES

Milford previously held 97,877,776
Milford now holds 74,272,862, a change of 23,604,914

They have transferred 23,263,857 back to the Superfund
they have sold 341,057, since the last declaration

[Harrie]

As we have seen recently Inst's are more concerned with investment mandates than they are with disposition or acquisition at any particular price. If shares don't fit within their investment. Philosophy then they get shovelled out the door until they have gone. AMP happy to let them go at lows 40's! Expect that to happen if Milfords get redistributed to default providers IMO.

[NT001]

Milford previously held 97,877,776
Milford now holds 74,272,862, a change of 23,604,914

They have transferred 23,263,857 back to the Superfund
they have sold 341,057, since the last declaration

Thanks Xerof. That part I understand. But I can’t reconcile that with the NZSF’s SSH which says that following the assumption of direct responsibility for securities previously held for it by Milford, its stake in ATM has NOT INCREASED but has DIMINISHED by about 5m shares.

It states that in its previous SSH dated 3 November 2014 its ATM stake was 41,344,622 shares or 6.264%, comprising 2.799% held directly by NZSF and 3.465% held for it by Milford.

But in its latest SSH dated 31 March its stake following the sacking of Milford is now shown as 36,888,681 shares or 5.589% of ATM.

How does this tally?

Just to confuse things further, ATM has declared to the ASX that as of 20 March (a fortnight ago) the NZSF held 37,848,680 shares or 5.98% of the company. And it did not list Milford at all among its top 20 shareholders (above 3.7m shares).

It listed TEA Custodians, known to be a custodian used by Milford, as being in 11^th place among major shareholders, but holding only 16,153,397 shares, or 2.55% of ATM’s capital. Mind you, 33% of the company’s shares were shown in that declaration as being held by nominee and custodial companies, and there seems to have been a major rejig among them in the past few weeks, so a lot of what we’d like to know about the top shareholders in ATM remains hidden.

[Xerof]

I would suggest the decrease has everything to do with the AMP selldown since November.

I would also suggest that ATM would not know the status of each nominee, in terms of who holds 'beneficial' ownership.

You'll drive yourself batty trying to reconcile....best to accept the SSH notices as the truth, and ignore Top 20 lists

[Tsuba]

http://zeenews.india.com/news/health...s_1572910.html

[Fisherking]

Supermarkets are already "wasting space on a punt" in the USA. A2 will be sold in West Coast Kroger, Safeway and Wholefoods this month, according to this: http://www.foodnavigator-usa.com/Man...ornia-in-April

So... really there is nothing standing in the way of their success in terms of signing contracts.[/QUOTE]

Supermarkets do not waste space on a punt. If a2 have secured shelf space they will have paid for the privilege.

[winner69]

As we have seen recently Inst's are more concerned with investment mandates than they are with disposition or acquisition at any particular price. If shares don't fit within their investment. Philosophy then they get shovelled out the door until they have gone AMP happy to let them go at lows 40's! Expect that to happen if Milfords get redistributed to default providers IMO.

Don't forget that AMP got most if theirs at 10 cents or below.