I didn't say they didn't own the shares, I said who did they sell them to?
1. Details of substantial holder (1)
Name Van Eck Associates Corporation (and its associates as referred to in paragraph 6).
ACN/ARSN (if applicable) N/A
The holder became a substantial holder on 16/06/2023
2. Details of voting power
The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a
relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:
Class of securities (4) Number of securities Person’s votes (5) Voting power (6)
Ordinary shares 13,064,654 13,064,654 5.07%
3. Details of relevant interests
The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a
substantial holder are as follows:
Holder of relevant interest Nature of relevant interest (7) Class and number of securities
Van Eck Associates Corporation
(VEAC)
VEAC holds its relevant interest by having
the power to exercise, control the exercise
of, or influence the exercise of, the voting
powers or disposal of the securities to which
the relevant interest relates in the ordinary
course of investment management
business.
Ordinary shares
13,064,654
4. Details of present registered holders
The persons registered as holders of the securities referred to in paragraph 3 above are as follows:
Holder of relevant
interest
Registered holder of
securities
Person entitled to be
registered as holder (8)
Class and number
of securities
VEAC State Street Bank and Trust Company as
custodian for VanEck Junior Gold Miners
ETF
VanEck Junior Gold Miners
ETF (GDXJ)
Ordinary shares
11,839,223
VEAC State Street Custodial Services (Ireland)
Limited as depositary for VanEck Junior
Gold Miners UCITS ETF
VanEck Junior Gold Miners
UCITS ETF (UCTGDXJ)
Ordinary shares
1,225,431
5. C
As at yesterday the ETF (UCITS ETF | GDXJ/ GDXJ) had 1,090,064 shares at 845,320 USD
https://www.vaneck.com/uk/en/investments/junior-gold-miners-etf/holdings/You can check out the numerous Van Eck associates in the US, Australia and the Netherlands.
Name and ACN/ARSN (if applicable) Nature of association
VEAC Associate under section 12(2) of the Corporations Act.
Van Eck Securities Corporation Associate under section 12(2) of the Corporations Act.
Van Eck Absolute Return Advisers, Inc. Associate under section 12(2) of the Corporations Act.
VanEck Australia Pty Ltd Associate under section 12(2) of the Corporations Act.
VanEck Investments Limited Associate under section 12(2) of the Corporations Act.
VanEck Asset Management B.V. Associate under section 12(2) of the Corporations Act.
I shall let you explore the breathtakingly wide definition of Associate in the Corporations Act s. 10-17, but relevantly 12(2).
http://classic.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s12.htmlI suspect by their names that these companies that purchased these KCN shares had differing equitable obligations.
Please note that I don't know that they have sold or purchased any of these shares or broken any law. Just that those who have purchased may be very wide with differing legal obligations.
What you do know from the form 603 is that they jointly associated with those shares because there has been no form 605 filed. You also know that the ETF doesn't reflect the same corporate entities as these separate purchasers.
If there is anything wrong with the above please correct me. The above are undisputed facts, unless I have made an error about the number of shares in the ETF.
Please don't refer to "conspiracy theories" to disparage a view that you haven't considered sufficiently.
| Kingsgate Consolidated Ltd | KCN AU | 1,090,064 | 845,320 | 0.25 |
(20min delay)