It may be split into different funds now. Substantial holder notices are based on controling interests so it could be held by one of there funds or several.
In terms of them pushing prices around it may happen but very risky for them and in my opinion not really worth it. Investing as an investment manager is different to that of a private investor. The ZNO position may be (and most likely) only a small part of the overall funds under management for that fund so a 20% move in the stock price may only equate to a small amount of overall return for that specific fund. The bigger return will come from holding the position in the medium to long term then trying to trade for peanuts especially when you consider the costs involved further eating away thier profit. In my opinion they will want to see the share price increase so they can increase the returns for their investors not short the share price or go for smaller quick returns.
I could be wrong but I am still holding based on current fundamentals which haven't changed with Paul selling some of his holding nor regal coming in as a substantial holder.
