Gidday Mickeyd,Yes I see that, and paragraph 4 states that the...

Gidday Mickeyd,

Yes I see that, and paragraph 4 states that the registered holders of the shares listed in para 3 are as follows.....and goes on to list UBS as one of the (3) registered holders, holding 13.62m of the total....the same amount of shares UBS struck off their substantial holding!

So, UBS are still the registered holder of the shares, but they are listed under a substantial holding by this new player!

Lets put 2 and 2 together and come up with 5!!

In theory, UBS could now pick up another 5% of stock, but would not have to make an official t/o offer for KIM because they would not be registered as a substantial holder with over 20% of the stock, even though they did have more than 20%.........mmmmmm, starting to get very interesting!