Why is this share so illiquid?

[JimMorrison]

HWW has solid fundamentals, as it finds itself in a niche market in the rural areas, and earnings have always grown spectacularly. Yet no shares have been bought in a week despite announcements on 2 new retail stores... It is a solid investment at forward PE +-3.6 with only the liquidity of the share as the main concern.

[Major]

It's 50% held by Charter plc, and SA institutions have 30% of the rest, leaving a free float of 20% - not much for such a small company! Be careful of the huge bid/offer spread.