Ann: Appendix 4E - Preliminary Final Report, page-28

I thought long and hard about the ownership structure and looked at the share ownership, and no-one knows the reasons but given that it was in place long before Edencrete, it is more likely an evolution of historical ownership of investments, security and tax advantages. I think its more complicated than most people know, given it has numerous companies and straddles a number of jursidictions. Overall though, unless an investor is hoping for a quick buck from a hostile takeover - which would be unlikely to succeed without agreement from the Solomon clan - it doesn't make much difference to me. The Solomon Family and their associates and super funds own a huge majority so can make all the important decisions, but they also share the risks.