Clarity, page-7

  1. 6,983 Posts.
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    Buttonwood is purely a nominee company that seems to have a host of beneficiaries that they hold shares "on behalf of". The past career of the CEO overseeing operations is irrelevant. They have been around a long time. A simple Google search will show that they are spread far and wide. It is, in my view, misguided speculation to suggest anything other than a transfer of stock on behalf of a beneficiary. So no substantial change as there isn't one, should it be account to account. It is also clear that a nominee company would be problematic in voting given its constituents. Nothing to see here.

    For those who would like a bit more legal info on nominee companies:

    NOMINEE SHAREHOLDING IN AUSTRALIA
    Nominee shareholding is an increasingly important area within the securities
    industry, but it has not received the attention which it deserves. This article
    considers its nature, extent and purposes, its advantages and disadvantages,
    and the adequacy of existing legal regulation.

    General
    A nominee shareholder is a person who holds shares in his own name on
    behalf of another person-the beneficiary-who has the effective ownership
    and control of the shares. Thus, the nominee is owner in name only. He is the
    registered legal owner, holding the shares on trust for the beneficiary, who
    has an equitable interest.
    Last edited by andres: 23/11/23
 
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