Ann: Ceasing to be a substantial holder, page-6

Based on the available data, there is no clear evidence to suggest that short positions in Mesoblast Ltd (ASX: MSB) were being closed around 23 June 2025. Here's an analysis of the trading behavior and short interest data:

Short Interest Data (as of 19 June 2025)

• Short Position: 6.21% of MSB shares were reported as shorted.

• Recent Changes:

  • 1-day change: +0.18%

  • 1-week change: +0.06%

  • 1-month change: -0.01%shortman.com.au+4shortman.com.au+4shortman.com.au+4shortman.com.au

These figures indicate a slight increase in short interest leading up to 19 June 2025, with a marginal decrease over the month.

Trading Behavior Around 23 June 2025

While specific trading data for 23 June 2025 is not provided, the Form 605 lodged by J.P. Morgan and affiliates indicates a decrease in their holding of MSB shares, dropping below the 5% substantial holding threshold.This change is attributed to securities lending activities, where shares are lent out, temporarily reducing the lender's voting rights and thus their reportable holding.

The reduction in J.P. Morgan's holding is consistent with securities lending practices rather than the closing of short positions.

Conclusion

Based on the available data:

• There is no clear evidence of short positions being closed around 23 June 2025.

• The decrease in J.P. Morgan's holding is likely due to securities lending activities.

For a more precise assessment, access to detailed daily short sale data from the ASX would be necessary.

note: regarding "While specific trading data for 23 June 2025 is not provided" I asked it to review again with publicly available data (yahoo finance or otherwise) and shortman again but get the same. Homework for the reader I suppose