It would also provide a significant enhancement to our moat for...

It would also provide a significant enhancement to our moat for Bene to get a cut of sales rather than $/kg. Makes a hell of a lot of sense BUT we don't know what is actually happening behind the scene with Bene do we....crickets

And as far as I'm aware they're not directly on register (in any substantial way at least). As TanamiRod has pointed out Allianz is next biggest holder to PR as at end of 2023. Whether their combined holding is now greater than PR is questionable given PR has just allocated himself plenty more with a free no obligation look.

Curious on how Norges Bank Investment Management first came onto register as the manage the Norwegian Govt Pension Fund. Likely connections to Bene and/or Allianz. Came across this tid bit looking into it - https://www.nordicbioscience.com/biomarker-solutions/rheumatology/osteoarthritis

Nevertheless if PAR continues with Bell Potter for "corporate advisory" you can bet on more of the same for poor shareholders. The lack of other (more reputable) brokers interest here continues to be telling on where PAR is still at in terms of local market convictions over the PAR Board.