SEDI update; RC, where are you?

[Palm]

Just an update on SEDI reporting by insiders. Since the window is closed BOD and executives/management are not allowed to trade until the next time it is open. There have been some filings, but they are for Grant of Rights. RC last updated on Monday for his June 4 purchases which were a part of his last announcement which put him just under 7 million shares. If he has bought any more this week, it's not been reported yet, but I believe he has 5 days to do so. Here is the recent activity:
Insider name: DIEZMANN, PETER PATRICK
Insider's Relationship to Issuer: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6)
Ceased to be Insider: Not applicable
Security designation: Rights Performance Share Units (Common Shares)
2096887 2012-05-16 2012-06-06 Direct Ownership :
56 - Grant of rights +2,500 55.5000 USD 5,335 2014-05-16 Common Shares +2,500 5,335

Insider name: Dolman, Andrew
Insider's Relationship to Issuer: 8 - Deemed Insider - 6 Months before becoming Insider
Ceased to be Insider: Not applicable
Security designation: Rights Performance Share Units (Common Shares)
2096212 2012-05-16 2012-06-05 Direct Ownership :
56 - Grant of rights +2,000 55.5000 USD 5,763 2014-05-16 Common Shares +2,000 5,763

Insider name: Holland, David John
Insider's Relationship to Issuer: 5 - Senior Officer of Issuer
Ceased to be Insider: Not applicable
Security designation: Rights Performance Share Units (Common Shares)
2096880 2012-05-16 2012-06-06 Direct Ownership :
56 - Grant of rights +2,500 55.5000 USD 19,651 2014-05-16 Common Shares +2,500 19,651

Insider name: Richard Chandler Capital Corporation
Insider's Relationship to Issuer: 3 - 10% Security Holder of Issuer
Ceased to be Insider: Not applicable
Security designation: Common Shares
2091093 2012-05-25 2012-05-28 Indirect Ownership :
Orchid Fund Pte Limited 10 - Acquisition or disposition in the public market +148,515 63.8302 USD 6,573,866

2093155 2012-05-29 2012-05-31 Indirect Ownership :
Orchid Fund Pte Limited 10 - Acquisition or disposition in the public market +169,804 65.6962 USD 6,743,670

2093157 2012-05-30 2012-05-31 Indirect Ownership :
Orchid Fund Pte Limited 10 - Acquisition or disposition in the public market +59,703 65.6784 USD 6,803,373

2094479 2012-06-01 2012-06-04 Indirect Ownership :
Orchid Fund Pte Limited 10 - Acquisition or disposition in the public market +187,351 66.0039 USD 6,990,724

Insider name: Zirgulis, Allan John
Insider's Relationship to Issuer: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6)
Ceased to be Insider: Not applicable
Security designation: Rights Performance Share Units (Common Shares)
2096892 2012-05-16 2012-06-06 Direct Ownership :
56 - Grant of rights +2,500 55.5000 USD 6,644 2014-05-16 Common Shares +2,500 6,644

[Gator]

Reviewing RCCC purchases from last month, he didn’t buy any IOC stock till 5/8 after his 4/30 announcement. Then he purchased IOC stock 13 out of the next 16 trading days for a total of 1,888,724 additional shares or 12.79% of the total volume for the month of May. On days he was buying, he was reasonable for as much as 37.1% of the daily volume and as little as 8.89% with an average of 21.38%.

I am not sure what any of this means, but it is not too late for him to get to 19% ownership by the end of June if he starts to pick up the pace.
:-P

[jake990037]

Maybe someone can clarify this but I recall but cannot refind someone on this site saying Orchid Fund had 14%+ and RC in his own name 5%+, and that he didn't think that the latter duplicated part of the former. If so, and if both come under the same regulatory ceiling of 20%, then RC is now already basically at his ceiling.

[Palm]

SEDI requirements are for aggregated reporting and shares owned by one are deemed to be owned by all. I believe the reference you are making is to a listing on Morninstar and there was confusion as to how it was shown:
http://investors.morningstar.com/ownersh...html?t=IOC

However you can see that on the release from last week Orchid is listed with the agregated group in the 6.9 million shares.
http://www.prnewswire.com/news-releases/...63965.html

Note also the dating of the Morningstar report; it shows Orchid as of April 30, which was the first reporting; that should be cleaned up by Morningstar; very confusing

[Palm]

Gator, nice pickup on that activity. RC may well know that with OE coming it will be worked down and instead of wasting a bunch of money now he may wait until the work is done (at $62.50 or $60) then start buying again. He knows what's going on and he can buy in at a bit lower price if he waits. We'll know soon enough.

[Gator]

Not at all. RC is not holding any stock in his name. It is all in Orchif Funds PTE LTD which is owned by Richard Chandler Capital Corporation Pte Limited which is directed by R. F. Chandler Capital Trust (a discretionary trust)of which the Cosimo Management Limited is the trustee. Cosimo Management Limited is the sole shareholder of Richard Chandler Capital Corporation ("RCCC").

Orchid, RCCC, Richard Chandler Capital Corporation Pte Limited and Cosimo Management Limited (in its capacity as trustee of the R. F. Chandler Capital Trust hold an aggregate of 6,990,724 common shares or 14.51%

You might see each of the names under "holders" on some sites, but they are not seperate, but one in the same.

The same as George Soros, Robert Soros, Soros Fund, and Quantum Fund it is the aggregate and is deemed to beneficially own the accquired shares.

[jake990037]

Palm, gator, thanks for the clarification.

[Palm]

So, reports are surfacing that RC may well be back in buying the last couple of days as predicted. Wait until GS works it down for OE, then jump back in at lower prices and help the push to $70. Another gut feel tells me he will now try and support it at $70 and see if anything announces by 6/30 and continue his march to around 20% ownership. He should very soon be filing additional reports if his buying has resumed. Very interesting games that get played.