Ann: ENSOGO SHOWS STRONG Q4 MOMENTUM, page-24

You'll never know unless it was one of these:

4/4/14
Catcha Group Pte Ltd 88,924,936 24.75%
Rebate Networks GMGH 54,938,821 15.29%
Middle Kingdom Capital Group 44,221,698 12.31%
National Nominees Ltd 21,870,644 6.09%

These household names were your Substantial Holders at the last annual report in April.

Rebate Networks was diluted from 14% to 12% holding after the from cap raise. None of the others said boo so presumably they took an entitlement and remain with the same percentage despite the number of shares on issue rising from 359m to 427m by June 30.

Only holders with more than 5% (Substantial) need disclose their change in holdings so an announcement will only be forthcoming if the holder that crossed 4.1m holds more than 21m (5%) in aggregate

You can add to this list Acorn Capital who disclosed a holding of 46527393 10.9% in July.

Whoever it was you wouldn't call it a vote of confidence.

Teringie, as an accountant, what would you say about the $102m of Goodwill on their books (about 80% of annual forecast revenue) disclosed at the half yearly?