Ann: Change in substantial holding , page-4

Maybe ASIC finally asked them to come clean. I complained about 6 months ago about BRU substantial holders. These guys were one example.

From memory, I figured that sometime between Dec 2011 and Sep 2012 these guys ceased being a substantial holder, because they were no longer listed as such in the Annual report.

It would seem that someone stuffed up and that they continued to be a substantial holder, even we were told otherwise.

They have actually accumulated more shares in the period covered by today's announcement, but their percentage has gone down due to capital raisings and director option conversions.

I find it hard to believe that in nearly 2 years of heavy trading they have not once exceeded the 1% change threshold which would require them to inform the market with a Change In Substantial Holding notice. I think they have probably been slack about it like everyone else because ASIC has not been vigilant enough (under-resourced, of course).

Maybe times are changing, or maybe Macquarie wants to be clear about what they are up to at this point in time.