MCK - Millennium & Copthorne Hotels.

[mfd]

True. 2.5% of all issued shares.

According to the last annual report there are only 2 shareholders who could sell such a large parcel:

• CDL Hotels holding (which belongs to MCK International which belongs to CDL Singapore which belongs to the Kwek family)
• Aberdeen Standard.

Unlikely CDL sold some, which leaves only Aberdeen Standard (it seems to be their job in the team anyway to keep the price down). Question is - who bought?

Start of a full takeover?

Aberdeen standard have sold a bunch of their CDL holdings this year, so seems likely it's them.

[greater fool]

.......more than 30 trading days since purchase.

[BlackPeter]

Not at all sure those two are the only holders with the required amount of stock.

Attachment 10884

My pick from this list would be J.P. Morgan Chase NZ Branch
And if a takeover was on the menu, then CDLHHNZL is more likely the purchaser. Also, if you were going to
base a TO on a market VWAP, then you have just served an ace.

Ah ... share owners often hide behind "nominees" (banks and similar) who are holding the shares on behalf of a number of their (unnamed) clients. These nominees appear on the share register, but they normally can't sell or buy unless instructed by the owner - and they are very unlikely to do this for several of their clients at the same time.

This is the list of substantial security holders:

MCKsubs.JPG

- and, as you can see here:

MCKholsize.JPG

... there are only 2 holders with more than 2.5 million shares - and there happen to be only two substantial owners (o.k., if you assume that Aberdeen Standard Asia Focus and Aberdeen Standard investments (Asia) Ltd are independent from each other (I don't), than it would be three) .

Do your own maths ;

[greater fool]

Content removed. Try this instead;

https://www.sharetrader.co.nz/showth...l=1#post781312

[BlackPeter]

Yup. Done the math thanks.
If you would like to take another "look" at the shareholder table I posted above you may notice the letters NZCSD after 8 of the
parties. NZCSD counts as only 1 'holder' in the Holdings Size table.

And I think it possible that a nominee could do a trade sale for all their "unrelated" parties at the same time.

Possible - yes, but likely? I guess we will see ... if it was Aberdeen (as I thought) than we would need to get a SSH over the next couple of days.

[Scrunch]

2,660,300 traded at $2.35......................Interesting.

The discount to market tends to indicate someone like a fund manager altering their view on the company and wanting to get out. There isn't sufficient on market liquidity so the broker has found buyers. If this stake has been offered off market for a while it would help explain the recent price weakness while CDL was increasing.

[WAIKEN]

Often that sort of sale can be a precursor to a takeover bid eg MET
Ive been watching the market activity as I have a substantial holding. It looked like an algo may have been operating and there was an attempt to hold the price down.
Lets hope a bid comes in at NTA

[percy]

The discount to market tends to indicate someone like a fund manager altering their view on the company and wanting to get out. There isn't sufficient on market liquidity so the broker has found buyers. If this stake has been offered off market for a while it would help explain the recent price weakness while CDL was increasing.

Agreed.............................

[greater fool]

Content passed use by date, removed.

[percy]

Aberdeen Standard have been a relentless seller for over a year.
Still holding 10,182,794,or 9.6538% I would expect they will keep selling for the foreseeable future.Take care.