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SOL - WASHINGTON H SOUL PATTINSON & COMPANY LIMITED


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IN REPLY TO A POST BY DRUGGIST, Tue 27/01/04 08:57pm   [READ POST]


Thanks ASXBOARD.COM.
Any ideas on where to with this stock which seems to be floundering compared to opposition SIG?

Floundering? you are hard to please! sp has moved from around $4 a couple of years ago to $6.40 and during that time shareholders have had the opportunity to participate in the float of SOT at .25 (now $1.26) and NHC last year at .40 (now .66), an old style co run on the basis of thin carpets and thick dividends, I hold plenty of them all.

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  • 1 year later...

This is possibly not a trade stock but SOL will get plenty from either dividends or Capital return dividends from NHC who have just received $500m from sale of Indonesian mine equity. SOL is major shareholder. Anyone else have an opinion on how the funds will be utilised?

 

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  • 2 months later...

In reply to: Sam43 on Tuesday 02/08/05 05:45pm

Souls Private Equity Limited was sponsored onto the public lists by the Soul Pattinson Group on 16th

December 2004 with an equity raising of some $130 million. As outlined in the ChairmanÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s address, SPEL

pursues a long term investment philosophy into ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“private equityÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ and listed small medium enterprises (SMEs).

In the seven and a half months since listing, the management team at SPEL has been most active and at the

time of writing this report, we have reviewed in excess of 195 investment opportunities. When reviewing these

projects your managers have followed closely the Soul Pattinson investment strategy and thus we investigated

a wide range of investments, be they start-ups, venture capital, IPO pre-investment, Bio-tech, Life Sciences,

small through to large mature businesses.

We have focused on process with each project reviewed utilising our ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“three-filterÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ model. In addition, the

overriding factor at each investment committee meeting held to review a proposed investment is ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“one out all

outÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ. As a result of this process, your managers to date have experienced a high rejection rate, so that anytime

in the cycle approximately 85% of the projects are rejected relatively quickly, 10-12% are still under review and

the balance of 3-5% are being prepared for the final filter, which is SPEL Board approval. However, it should be

noted that the rule of ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“one out all outÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ applies even at the SPEL Board of Directors meetings.

 

Pitt Capital Partners Limited is a merchant bank which provides a full range of corporate advisory services on:

â–  Mergers & Acquisition ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ public company takeovers, defences, divestments and mergers;

â–  Equity & Debt Raisings ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ capital structuring, initial public offerings & private equity raisings;

â–  Underwriting of equity raisings;

â–  Restructures ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ including reorganisations and restructurings, leveraged buyouts, capital

management, back-door listings and corporate workouts.

Pitt Capital Partners Limited is the appointed manager of SPEL and also has a 25.5% interest in Souls Funds

Management Limited which manages SPELÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s listed securities portfolio. Pitt Capital Partners Limited holds an

Australian Financial Services license and is a member of the Australian Venture Capital Association Limited.

Specialist Oncology Property Pty Ltd

â–  Initial Investment Date 10 December 2004

â–  Carrying Value at 31 July 2005 $785,000

â–  Equity held 29.13%

Specialist Oncology Property Pty Ltd provides high quality specialist medical services through consolidation of

successful specialists clinics with an accessible ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“brandÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ name. Cost savings are maximised through centralised

administration and increased bargaining power with hospitals, health organisations, insurance groups and

governments. Key divisions include cancer care, hormonal and diabetes services, heart and lung services,

obstetrics and gynaecology. The company currently operates from four premises within the Sydney

metropolitan area situated at Westmead Private Hospital, The Hills Private Hospital, Ashley Lane at Westmead

and Sydney Adventist Hospital at Wahroonga.

Austgrains Pty Ltd

â–  Initial Investment Date 10 December 2004

â–  Carrying Value at 31 July 2005 $2,974,000

â–  Equity held 48%

Austgrains is a niche supply chain manager of a diverse range of quality agricultural products for the food

processing industry. It is also a 50% joint venture partner with ASX listed Clover Corporation Limited in Future

Food Ingredients Pty Limited which commissioned a new plant to produce innovative soy bean flour in July

2005.

Austgrains has a strategically positioned 18 hectare freehold rail site in Moree. The Australian Rail Transport

Corporation completed the upgrading of Austgrains rail siding in July 2005. The NSW Government has

selected the site as the preferred location for an intermodal multi user Road/Rail freight terminal, which

Austgrains plans to develop.

The drought has impacted the performance of the company over the last three years. However recent heavy

rain combined with major sowing in July resulted in improved seed sales. Austgrains is expecting strong grain

sales going forward and is budgeting to deliver a reasonable profit in the current year.

 

InterRisk Australia Pty Ltd

â–  Initial Investment Date 10 December 2004

â–  Carrying Value at 31 July 2005 $ 760,000

â–  Equity held 20%

InterRisk as a startup investment is showing significant growth in revenues and market share. The company

commenced operations in May 2004 and provides corporate insurance broking and risk advisory services

focusing on medium to large companies with the ability to design and place complex local and international

insurance programs.

The company provides other value added services such as risk retention analysis, claims advisory, evaluation of

corporate risk management and risk financing programs and has offices in Sydney and Melbourne with

Brisbane opening shortly.

Asian Property Investments Ltd

â–  Initial Investment Date 31 March 2005

â–  Carrying Value at 31 July 2005 $1,975,000

â–  Equity held 36.81%

Asian Property Investments Limited is a property investment company established to take advantage of

favourable B grade property investment conditions in Hong Kong. The company invests in B grade properties

with strong past rental record, situated in prime locations that are positioned for significant capital growth.

The company has purchased a number of properties since inception and continues to identify and negotiate

further properties for its portfolio.

Hydramatic Engineering Pty Limited

â–  Initial Investment Date 22 July 2005

â–  Carrying Value at 31 July 2005 $4,000,000

â–  Equity held 40%

On 22 July, 2005 SPEL acquired a 40% equity interest in Hydramatic Engineering Pty Ltd, a Newcastle based

private company which designs and manufactures drilling / bolting machines primarily for the underground coal

mining industry (roof and rib bolting) and provides after sales service. Hydramatic Engineering also

manufactures specialised drill/bolting rigs for tunneling applications. Products are marketed domestically and

internationally under the ARO brand.

Hydramatic Engineering was founded in Australia by Mr John Wood in 1972. The company employs 200

people worldwide and has offices to meet its customerÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s needs in the major coal producing regions of

Australia, United Kingdom, Germany, South Africa and the United States of America. In addition Hydramatic

Engineering has representative offices in other key markets, such as Switzerland and China. International sales

account for approximately 60% of the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s total business.

The company is enjoying robust demand for its products as a result of its successful entry into major

replacement markets internationally. In addition, the booming coal market and the positioning of its products in

the tunnel boring machine market is expected to produce favourable results.

 

Milvella Pty Ltd

â–  Initial Investment Date 10 May 2005

â–  Carrying Value at 31 July 2005 $1,000,000

â–  Equity held 8.53%

Milvella is an innovative Australian start up medical device company which has developed proprietary products

with global applications for the ophthalmic surgical market. Its masthead product, PerfectCapsuleÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚®, is primarily

targeted at the expanding refractive market segment. It is intended to improve the surgical outcomes in

refractive lens exchange and be critical to overcoming a major complication in pediatrics cataract surgery.

European and Australian clinical trials of sterile water in association with PerfectCapsuleÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚® have shown reduced

capsule opacification after one year. Similar trials have now obtained ethics approvals in the United States of

America. Although sterile water has a significant effect, it has not been sufficient to drive clinical use on a

routine basis.

The company has identified other solutions significantly more toxic to the cells which cause capsule

opacification. They are currently undertaking final safety / efficacy studies in collaboration with leading research

institutions prior to commencing the clinical trials later this year. Management of Milvella expect to complete

clinical trials of the new solutions in the current fiscal year and continue to raise awareness of the technology,

and provide the infrastructure necessary to support sales growth.

Marine Produce Australia Limited

â–  Initial Investment Date 7 April 2005

â–  Carrying Value at 31 July 2005 $2,091,000

â–  Equity held 14.64%

Marine Produce Australia Limited offers investors the opportunity to gain exposure to a diversified seafood

producer adhering to sustainable farming practices. The company was spun out of Australia's third largest

cultured south sea pearl producer, Maxima Pearling Company, established in North Western Australia in 1990.

Marine Produce Australia Limited is moving towards production of black tiger prawns and saltwater barramundi

from its land and sea farming operations in the Northern Territory and Western Australia.

The company has aquaculture licenses for land grow out bases in the Northern Territory and is in the process

of securing sea grow out licenses in Western Australia. Marine Produce Australia is working with leading marine

ecologists in order to establish and maintain the highest possible environmental standards in all its farming

operations.

 

Outlook for Souls Private Equity Limited

SPEL had experienced a very active 7 1/2 month period since listing on the ASX on 16 December 2004 with a

large number of projects reviewed resulting in 4 new investments during the period. The dealflow continues to

be strong with three significant investments and four potential IPOÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s currently in the SPEL pipeline. The

management team remains optimistic about 2005/2006 year and especially so given the ongoing above

forecast deal flow we are experiencing. However, we must emphasise the long term nature of ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“private equityÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

investment and the folly of short term strategies applied to the speculative end of a private equity portfolio mix.

It should be noted that as at 31 July 2005 Directors felt it was prudent not to revalue the private equity

investments at this early stage of the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s history.

As indicated in the ChairmanÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s address, all SPEL shareholders will be given priority in regard to any IPO that

eventuates from the SPEL pipeline.

 

Operating and Financial Review

Souls Private Equity Limited was incorporated on 30 September 2004 with the objective to invest in private

equity investments as well as invest in other unlisted and listed investments. Souls Private Equity Limited initially

acquired six private equity investments, as seed portfolio. Acquisition of those private equity investments was

completed on 10 December 2004.

During the period 30 September 2004 to 10 December 2004, Souls Private Equity Limited did not trade.

Shares and options in Souls Private Equity Limited were listed on the Australian Stock Exchange Limited

commencing 16 December 2004.

The principal objective of the consolidated entity is to maximise returns to shareholders over the long-term

within risk parameters acceptable to the board of directors. This is achieved by investing in a combination of

unlisted and listed Australian and Asian securities. In essence, the consolidated entity will invest in and support

unlisted SMEs which offer high prospects for capital growth over the long-term. Investment in listed and

interest bearing securities will be an ongoing strategy, but particularly important in the formative years to

generate income whilst the unlisted portfolio is developed and matures.

Portfolio Performance and Results

The directors are pleased to report a consolidated profit after tax for the period of $2,478,000.

The long term listed investment portfolio has also performed well and increased in market value by $2,925,000.

 

 

 

 

 

 

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CASH FLOW RECONCILIATION (continued)

© Non-cash financing and investing activities

(i) Share issue on acquiring controlled entities

(1) 8,000,000 ordinary shares and 1,000,000 options were issued on acquiring 100% of the

issued share capital of PCP 1

(2) 8,000,000 ordinary shares and 1,000,000 options were issued on acquiring 100% of the

issued share capital of GHA

(3) 31,107,143 ordinary shares and 3,888,393 options were issued on acquiring 100% of the

issued share capital of Cromford

(4) 2,910,000 ordinary shares and 363,750 options were issued on acquiring 63.83% of the

issued share capital of SODA

(ii) Share issue to finance controlled entity in acquisition of land and buildings

13,600,000 ordinary shares and 1,700,000 options were issued to assist Cromford in acquiring

head office and factory property from the Washington H. Soul Pattinson and Company Limited.

(iii) Share issue on acquiring investments in associates

2,162,500 ordinary shares and 270,312 options were issued on acquiring 20% of the issued

share capital of InterRisk Australia Pty Limited.

 

 

The 20 largest holdings of the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s option as at 30 September 2005 are listed below:

Washington H. Soul Pattinson & Company Limited 8,666,205 11.95

Richvale Pty Limited 1,037,500 1.43

Mr. Ming Chen 1,020,280 1.41

Permanent Trustee Limited <PTC0020 A/C> 1,000,000 1.38

Republic Australia Pty Limited 1,000,000 1.38

Mrs Monique Louise Kerr 707,500 0.98

Mr John A Hoyes-Cock & Mr Peter W Thorp

<Hoyes-Cock Super Fund A/C> 700,000 0.96

National Nominees Limited 584,000 0.81

Morton Enterprises Pty Limited & Spuning Pty Ltd

<The Hastings Drive Unit A/C> 449,000 0.62

Glowcave Pty Limited <Wood Super Fund A/C> 400,000 0.55

Australian Executor Trustee Limited 392,824 0.54

Pineross Pty Limited 350,000 0.48

Mr Malcolm John McDonald

<McDonald Super Fund A/C> 335,000 0.46

Mr William Brereton and Mrs Robyn Brereton

<The Robwill Super Fund A/C> 285,000 0.39

Mr. Chris Carr and Mrs. Betsy Carr 275,000 0.38

The Australian National University 250,000 0.34

Mrs Shareen Zarina Breden 250,000 0.34

Mr John Irvine Robertson 250,000 0.34

RBC Global Services Australia Nominees Pty Limited

<MLCI A/C> 244,000 0.34

Mr Steven Donald Bruce & Mrs Ann-Maree Bruce

<A M S Super Fund Account>" 240,000 0.33

 

 

Substantial Shareholders No. of Shares % of Total

Washington H. Soul Pattinson & Company Limited 69,329,643 11.82

 

 

Other Information:

â–  There is no current on-market buy-back in place.

â–  There were 51 transactions in listed securities undertaken by the Company and the total brokerage paid or

accrued during the year was $164,954

 

 

 

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  • 3 years later...

Over 3 years - nothing???

Is SOL unloved? or just not speccie enough?

 

In March, the green signals slipped under my radar because I filter for liquid stocks, cutting off at $500K per day.

Today, the turnover clearly made the grade, and has done so for a while.

 

Possible Trading Idea: Buy the break of $10 for a potential upside of $11.60 (Fib 161.8%); careful around the 127.2%, where we often find serious resistance.

 

post-20537-1242033811.gif

 

Going by the Weekly, it was a Buy since March, above $8.45; as it failed to break below the (green) trailing stop at $9.40, it's again a good buy or top-up opportunity. That's by the rationale: If it's not dropping to a "Sell", it's a reasonable "Buy".

 

post-20537-1242034213.gif

 

PS: Can you spot the Bullish MACD Divergence? (Had I seen it before taking the snapshot, I would've drawn it in ;) )

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Hi crooky

 

Try this website:

http://stockcharts.com/school/doku.php?id=...g_average_conve

 

For SOL, the Divergence is in the weekly chart, where the Lows of November and March run in opposite (converging, or Bullish) directions.

 

post-20537-1242052789.gif

 

On the Daily chart, there is no Divergence; the run from $8 to $10, which you correctly identified, is indicated (at least "supported") by the red MACD line crossing zero and, at the top, dropping back through the mottled blue line.

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