My take on this is something like this or similar has occurred:
JM Finaacial Group arrange Investment Funds/Superannuation for their clients, in this case "JM MPS a/c"(who ever that is) and this had been done through a fund with Sanhurst Trustees.
Clients have now elected to move their fund, and with it their underlying shares in RMG to another product provider such as MLC or AMP, or even into their own Self Managed Supannuation Fund. Just like changing bank's. They have not sold any of their shares, but their previous nominee company has advised they no longer have an interest in them.
We see it so often where HC Posters get all excited about say NAB Nominees becoming a substantial holder in a company, when all that has happened is that the total shares in a myriad of funds they control for clients have reached reportable levels.
I think you are right in regard to the notional consideration and the .002 per share is irrelevant.
You would expect a substantial holder notice from some where would be appropriate, but if it now just a mum and dad self managed super fund they may not even be aware of the requirements.
Just my rough take on it.
JRH
RMG Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
