Where did that come from? In the Annual report only Maoming...

Where did that come from? In the Annual report only Maoming (14.24) and Ward Ferry (6%) are substantial holders.

My instant reaction was that it could only be a transfer of the Maoming holdings to BOA. But it clearly states that BOA is the relevant beneficial owner.

My first instinct is that this is some sort of accounting/semantic trick of some kind. But if BOA have been accumulating such a large stake in a relatively short amount of time, they must have been doing so throughout the GFC and are probably the source of the annoying short-selling whenever depth was low that has done so much damage. It also means that lots of small holders have been gobbled up.

Taking this one step further, this means we have three large players with an interest in EPG (Maoming ~20%, Transcor and BOA ~20%). Bodes well for re-financing and the prospects in general.

Still, my instinct is that this notice must be the result of some sort of technicality in the ASX rules and might be a transfer of Maomings holdings.

Anyone else have a more definite view?