i phoned the company, page-73

Agent Cooper

I actually rang and queried Nomura directly

They said that they are entitled to take possession of the stock under the prime brokerage agreement, however that does not necessarily mean the stock is being leant out for shorting purposes - what was interesting is she mentioned it is often for collateral purposes

As Platinum is over a 5% holding, any sale or lending of the stock would have to be announced for starters. Platinum are also always in control of the stock if you check the notice as it states the lender is always in control of the stock

If you think logical also, you would have to be fairly stupid to borrow stock from the major shareholder and short it at lower than his average price, especially if he is the one providing the $150M finance and by all accounts, is keen to move to 19.9% on market

i.e if someone borrowed the stock from Nomura and shorted 10M @ 18c for example, Platinum would simply buy that, in effect buying 10M shares from themselves and the shorter would still have to cover those 10M shares that they just sold back to Platinum

You don't borrow stock from an aggressive major and then short it under his average buy price - it doesn't make sense, hence why I think this has something to do with the financing - perhaps a bond style of collateral