This is a common misunderstanding due to most companies using custodians or nominee shareholders.
L1 as per its disclosure will be the beneficial owner.
Where does that register screenshot come from? Financial companies like Bloomberg and other financial data providers really struggle to show an accurate listing of holders due to the widespread use of nominees and custodians. It is discussed a bit further in this article:
https://www.aicd.com.au/organisational-culture/business-ethics/change/how-well-do-you-know-your-shareholders.html
I would take L1's disclosure as the more accurate source as well as whatever the company has in its Annual Report.
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