From my understanding (correct me if I am wrong) was that the...

From my understanding (correct me if I am wrong) was that the share was LENT to the hedge funds as security collateral for them to mitigate offset their risk which as some point the shares needs to be return back to Soul Pattinson. This is a WIN/WIN deal for all parties because Soul Pattinson has negotiated a deal where:
1) NHC now have CASH to do what ever deal that they want,
2) The hedge funds can sleep at night
3) Soul Pattinson has only LENT the shares to the hedgefund and will get the shares back in the future THUS Still have economic exposure to the shares and get the benefits of further capital gains.

Read the paragraph in the announcement below:

"Stock Borrow Facility undertaking (in part) and ensures WHSP maintains its economic exposure to the 34,000,000 Company shares provided as part of the Stock Borrowing Facility"