65M shares sold by Glemoagle, page-49

So maybe Gleaneagles borrowed the shares from Vulcan, sold them to pay for their convertible notes, then bought back shares to return to Vulcan? Then the extra buying drives price up even further?? So then can sell convertible notes at even higher price and make more money? Don't understand it well, and don't understands how companies associated with directors can lend shares without disclosure to asx? Once again I understand it must be all legal because it is there in black and white, but very confusing!