On 24 May 2023, Bank of America ("BoA") said they had control of 49,531,463 shares - of which 4,044,782 they owned and 45.486,681 they had "borrowed" (see section 3 of BoA notice for the split).
Regal remained the beneficial owner of 55,086,681 shares as of Thursday 25 May (after having sold 8,200,000 on Thursday).
As of Thursday evening, Regal would have held 9,600,000 shares that it had not lent out to BoA (55,086,681 less 45,486,681 lent to BoA). From my reading of the BoA notice, Regal can recall the shares it lent to BoA at any time.
Given the volume on the ASX was approx. 15 million on Friday and over 5 million today, I think its reasonable to assume that either BoA or Regal have been selling.
Therefore, I expect another change in substantial shareholder notice sometime this week - just not sure if it will be from Regal or BoA. If selling by BoA, it will be interesting to keep an eye on the short sell list - just a shame that comes out with a few days delay.
PS - I thought it interesting that the number of shares that BoA have borrowed, being 45,486,681 is 4.95% of the total issued shares of 919,071,059.
HIO Price at posting:
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