100% agree with you that that's what would have happened if sold/transferred. Point is there's no transparency about where it went. I like transparency, especially when you're talking about a cornerstone investor. Could have made a public announcement explaining what happened. But then again perhaps it's a sign of naiveity to expect open and transparent communication from publicly listed companies. Perhaps I should expect and accept the 'nothing to see here' approach. Saying that some companies publish a top 20 list on their website and update it regularly.