Ann: TNG to raise $15M by Institutional Placement & Rights Issue, page-173

After a quick search of Delphi, Deutsche Balaton and Sparta AG, looks like they also have top 20 positions in the following ASX companies:

KIN
ATC
AZS
PNX
ORN
ZMI
GPR
NWF
GCY
BDG
and interestingly also
TRT... does that indicate these guys have been on the scene (or at least in the background) for much longer than we realise?

I haven't tracked TRT since the demerger, but interested to know if they were allocated a holding as part of the demerger (and therefore were perhaps a sub-20 TNG holder already) or whether they took up a strategic placement with them?