Nominee holdings by individuals? - Aussie Stock Forums

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  1. #1

    Default Nominee holdings by individuals?

    Can some here explain when I see say for e.g. ANZ Nominee in the top 20 of a company what that means to me its a smart way to hide your identity so how do you get ANZ Nominee to trade for you

    cheers laurie

  2. #2

    Default Re: Nominee Holdings By Individuals

    While I don't really have a clue I thought that meant that it was a subsidary of ANZ (ie a managed fund managed by ANZ etc etc)
    The greatest trick the devil ever played was convincing mankind he does not exist.

  3. #3

    Default Re: Nominee Holdings By Individuals

    Well Guys, when a company has a nominee like ANZ Nominees, or my favorite Bond Street Custodians (MBL), it means that the Company holds the stock on behalf of many/one holder/(s). This may or may not lead to a substantial holder - for those not aware, on the ASX if you hold more than 5% of the issue capital of a listed entity, you are required to lodge a substantial holder notification (form 603, under Corporations Act 2001). Plus, once you become a sub holder, you are then required to lodge a change if you move by more than 1%. All of these changes must be lodged within 2 days (Theoretically!!!!!). Just to make things more complicated, above 20% and things become tricky - either you make a takeover or go the 3% creep per 6 months...........

    God the provisions of Corporation Act are fun!


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