Ann: Response to ASX Query, page-38

i thought that JBL was more like the parent company and the other entities were sub JBL (the limbs). what i don't get is if the transactions in question involve HML selling it's share of an entity at what could be considered an inflated NTA, then why is that HML's problem and not JBL's? (which i think is the majority owner of JB financial). i thought i read that the purchase of HML's share in JBF was to be a cash transaction.

in other words, if HML is selling something for 10 bucks when it's really only worth 2, then when the transaction is completed - HML shareholders would be the winners and JBL shareholders would be the losers.

so, if this is the basis of the ASX query and trading halt then why is the query directed at the seller and not the buyer i.e. why is JBL currently trading and HML is in a trading halt?