CDL & CDI ... Another Great Result

[jimdog31]

I think "Aberdeen Standard Investments" is selling their their position. On 27 May 20 they had 6.3%, 16 September they had 4.7%

Its a thinly traded stock as mostly owned by MCK. Aberdeen Standard Investments also have similar size holdings of MCK and they have been selling that as well. MCK hasn't bounced off its March lows like other tourism stocks

Yep - WHen i placed an order for 50k before at .775 i got a phonecall asking if I wanted more...... Any thoughts on why they are wanting to exit? MCK not bouncing has waht implications on CDL do you think?

[jimdog31]

Think reason for the price slide is very obvious, if u compare page 3 here;
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CDI/359879/330873.pdf

With page 31 here;
http://nzx-prod-s7fsd7f98s.s3-websit...306/319157.pdf

Thoughts on why they are exiting?

[jimdog31]

Thoughts on why they are exiting?

Your referring to HSBC being in turmoil? They look to have reduced their holdings with HSBC 10,521,503 vs 1,828,086

[greater fool]

Expired content. Edited.
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[jimdog31]

Aberdeen manage three "bundles" of client accounts.
Look at Registered Holder column;
1. State Street Bank & Trust -based in Sydney -so clients are likely Australian + some Kiwi? Relatively small reduction in holding.
2. BNP Paribas. Nothing happening here. Stable holding for years.
3. JP Morgan Chase, also Australia. Some Kiwi clients as well?
Forget about HSBC Nominees. They don't own any shares they just "warehouse" them. Sort of document vault.

The big selling is from JP Morgan Chase, Sydney. They've gone from ~6.3m shares early March 2020 to ~1.8m at 17September20.
Clearly one or more of their clients are getting out.

Attachment 11990

Thanks Greaterfool. So we are likely to see a further dump of 1.8 m shares which will keep the SP depressed for a time. Probably a good buying opportunity as its dividend yield isnt the worst?

[clearasmud]

Relentless dumping of CDI and MCP nearly over.?

[macduffy]

Relentless dumping of CDI and MCP nearly over.?

I havn't been counting but I doubt that the 1.8m Aberdeen - controlled CDI shares have all found new homes yet. Do you think otherwise?

[glennj]

I havn't been counting but I doubt that the 1.8m Aberdeen - controlled CDI shares have all found new homes yet. Do you think otherwise?

I haven't been counting either but I've been watching and picking up a few at 77.5 cents. The big seller keeps feeding the market at 78 cents and when they are taken out more appear at the same price. When the price breaks above 78 cents I think we can assume the big volume seller at this price has finished or is taking a pause. The volume offered below 78 cents has been relatively small.

[macduffy]

I agree, glennj. It hasn't happened yet.

[DarkHorse]

I'm interested in buying back in after selling early this year. Does anyone have any ideas about the legislation likely to replace the RMA and how it might affect developers such as CDL?