There were sales of shares by 3rd party holders. My brother's...

There were sales of shares by 3rd party holders.
My brother's shares SOLD by Disallowed were HELD thru CMC and he traded with a small nz platform Disallowed.

He requested a transfer and they stuffed it up then sold his shares from under him.

I doubt he was the only person in this position.

Given the company (IHL) allowed small holders to register and retain their parcels.
This may have created an issue.

Possibly the sale of those shares was deemed "illegal" thus many have not gone thru.

Just my thoughts only.