I think that it is a deemed indirect increase of the 31 million or so BDT shares that have been placed in escrow. It is a deemed interest because it hasn't occurred yet, but is likely to occur, and it is an indirect interest because Miall is a director of BDT therefore has to declare it, along with his direct holding.
I am no expert, but that's the way I read it.
Ann: Change in substantial holding, page-3
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