anz opes disclosure

Hi all,

The latest statement from ANZ has me a little puzzled ... (as to whether ANZ have fully gotten rid of most of their 23M shares ...) ... please read and comment:-

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7 April 2008

Company Announcements
Australian Securities Exchange
Level 4
20 Bridge Street
SYDNEY NSW 2000

Disclosure regarding shareholdings in various ASX listed entities relating to security lending arrangements with Opes Prime

Australia and New Zealand Banking Group Limited (ANZ) has entered into Australian Master Securities Lending Agreements with Opes Prime Stockbroking Limited and Leveraged Capital Pty Ltd, each dated 26 July 2006 (the Opes Prime AMSLAs).

Under transactions entered into pursuant to the Opes Prime AMSLAs, the ANZ Group has acquired shares in various ASX listed companies. ANZ Nominees Limited, a wholly owned
subsidiary of ANZ, was registered as the holder of the relevant shares, with ANZ having beneficial title to such shares. Some of the shares may have been transferred by the ANZ Group to other parties under other securities lending agreements, pursuant to which the ANZ Group can require the return of the shares transferred (On-sold Shares).

The attached schedule identifies those listed companies in which the ANZ Group held shares comprising 5% or more of the total issued voting shares, and the ANZ's shareholding in those companies, in each case as at end of trading on 4 April 2008 and as a result of transactions entered into pursuant to the Opes Prime AMSLAs. The details shown include On-sold Shares.

ANZ has commenced a disposal programme (Disposal Programme) with respect to shares in which it has an interest under the Opes Prime AMSLAs.

ANZ has appointed a receiver and manager to Opes Prime Stockbroking Limited, Opes Prime Group Limited, Leveraged Capital Pty Ltd and Hawkswood Investments Pty Ltd (Opes Related Entities) pursuant to fixed and floating charges over the assets of those companies. ANZ understands that the Opes Related Entities do not at present directly hold any securities quoted on the ASX. ANZ further understands that Green Frog Nominees Pty Ltd, a wholly owned subsidiary of Opes Prime Stockbroking Limited, holds shares in some listed entities. It is not currently known whether Green Frog Nominees Pty Ltd has a full beneficial interest in any securities held by it, or whether such securities are held on trust for third parties.

ANZ may have an interest in further shares in the companies referred to in the schedule as a result of acquisitions under securities lending agreements between ANZ Group entities and other market participants. ANZ is currently in the process of ascertaining the extent of any such interest. Any such interest would not be subject to the Disposal Programme (although such interests may be disposed of from time to time independently of the Disposal Programme).

The ANZ Group may have an interest in shares in the companies in the attached schedule arising as a result of ANZ's non securities lending related operations (such as funds management activities of ANZ Group companies and of ING Australia Limited, a joint venture company in which the ANZ Group holds 49% of the issued voting shares). These interests are not included in the attached schedule.

Although there is some uncertainty as to whether ANZ is under a legal obligation to do so, ANZ intends to lodge a substantial holding notice in relation to each of the companies identified in the attached schedule as soon as practicable. The substantial holding notices will also include details of shares in which the ANZ Group has a relevant interest and of any shares which it holds as a result of securities lending arrangements entered into with other market participants.

Yours faithfully
John Priestley
Company Secretary

.........

ASX listed entity
-----------------
DESTRA CORPORATORDINARY

ASX code
--------
DES

Number of shares as at end of
trading on 4 April 2008 in
respect of which ANZ has an
interest as a result of
transactions entered into
pursuant to the Opes Prime AMSLAs
---------------------------------
23,435,169

Total number of issued ordinary
shares as at 4 April 2008 (based on
publicly available information)
-----------------------------------
331,094,652

Percentage of ordinary shares
-----------------------------
7.078%

.........

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Could someone who fully understands this, or even those that understand most of it please enlighten me! Clear as mud, or is it just Monday-itis / not yet used to the end of daylight savings?!

Cheers.