ENN and Hony are still holding the shares - they haven't been transferred.
Harbour do state the theree of them are acting in concert but it is not the same as shares being transferred to the new entity.
STO today advise that no agreement between Harbour and ENN/Hony is in place, although ENN/Hony are talking to Harbour.
This suggests to me (IMHO) that Harbour have jumped the gun on their announcement (technically correct but likely ENN/Hony were not at the time bound to any agreement) as a means of putting pressure on the board and dissuading other potential rivals. Dont think it will work, personally.
Ann: Becoming a substantial holder - Harbour, page-44
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