Ann: Change in substantial holding, page-5

We should get some communications this week given 6 months is up on 22 May according to the last AGM notes.
While waiting, a bit of wild speculation, which is probably just coincidence.
Capital H is also invested in Powerhouse Ventures PVL that looks at late stage VC deals and includes Joshua Baker from Capital H on the board. PVL took a stake in Melbourne based Courseloop late last year around the same time as Capital H became significant shareholder in SE1, soon after the main business of SE1 was announced to be sold. Courseloop is a curriculum management system for universities in Aus, US and UK and is looking to IPO in 2022, according to PVL. Why IPO when you can reverse takeover SE1 to raise capital?
Pure speculation, probably wrong.