AC always enjoy reading your posts, you have a very deep knowledge of the lithium industry and thanks for sharing that knowledge. Just to set the record straight, JP Morgan is not a top 20 holder. We don't know how many shares they own if any at all.
JP Morgan nominees is a top 20 holder, JP Morgan is the nominee, not the owner. The owner could be anyone, a client, managed fund, superfund etc etc, same as the other bank nominee holders on the register.
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.
http://www.austlii.edu.au/au/journals/AdelLawRw/1975/5.pdf