Ann: Change in substantial holding from IFL, page-43

qqqqqqqq, State Street, NAB, Citi and BNP are custodians, they do NOT call any shots whatsoever. They just HOLD the securities on behalf of Perennial. Listing their holdings provide no new information, the reduction in holdings of each of those institutions (keeping in mind they HOLD the securities for Perennial) is equal to the reduction given in the notice, i.e. reduction of 6,115,455 shares. To suggest those institutions are taking a view is simply incorrect.