RCR rincon resources limited

Ann: Becoming a substantial holder from CBA, page-3

  1. 703 Posts.
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    The CBA notice is about as transparent as mud!

    Inter alia, it has notations set out as follows, the meaning of which is not obvious to me, to say the least.

    " Fully paid ordinary shares (including
    2,634,098 228,111 borrowed from UBS AG
    (Agreement 2), see Annexure C)"

    " Fully paid ordinary shares (including
    6,742,163 228,111 borrowed from UBS AG
    (Agreement 2), see Annexure C)"

    Elsewhere, in Annexure B of the notice, it seems to be conveying that CBA or related entities are still holding 169,551 shares borrowed from UBS AG, 675,281 borrowed from Barclays Cap Sec ltd, and 179,638 borrowed from Deutsche Bank AG, which adds to a total of 1,024,470 borrowed shares.

    I don't understand why the CBA would be continuing to hold shares borrowed earlier in the year when they are now buying them outright. Doesn't it cost them to continue renting the shares?

    If they have already sold the borrowed shares, why are the shares being declared as still held in this notice?

    Cheers
 
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