Ann: Annual Report to shareholders, page-15

I'm still trying to figure out what's going on here, but the three new entries you mention (the Citicorp, BNP1/2, HSBC1/2 nominee accounts) total >60 million shares. Between those 2 dates, 2 August and 17 September (inclusive), there were 44 million shares traded on the asx + chi-x.

So either there's been a large amount of off-market shuffling (Kinetic are the biggest name to drop off the list), or the 2 August top 20 didn't report on nominee accounts. Or a combo of both. I notice there are a few more nominee accounts listed in the top 20 from last year's AR, but not as significant as this one. Maybe that's where a lot of the Smedvig shares ended up - in these nominee accounts?

I assume nominee accounts don't need to submit substantial holding notices when they go over 5% because there wasn't one for Citicorp or BNP