re: Ann: Becoming a substantial holder in ESG... HiA careful...

re: Ann: Becoming a substantial holder in ESG... Hi
A careful read of the announcements suggests to me that – Deutsche Securities Australia Limited and each of its holding companies in the Deutsche bank group – have lent Centauras Capital (a fund manager) approx 51.1 Million shares. (Section 3 of the substantial holder form).

Centauras Capitals website www.centaurus-capital.com has the following comments on what they term an event driven approach. I guess Centauras are thinking the ESG share price may appreciate ??
“What we do
Centaurus Capital is a private investment management company with an emphasis on Europe, Asia and the Emerging Markets. We manage assets by selectively investing capital on the basis of a rigorous bottom-up fundamental approach.

As part of our event driven approach, we make investments in equity and credit securities of companies that are undergoing significant corporate events or are experiencing other major changes, as well as "deep value investments" in securities that we believe are undervalued relative to their fundamental or intrinsic value, or which we expect to appreciate, should a particular event take place.

In order to establish an adequate comfort level for our investments, we develop a close and constructive ongoing dialogue with the senior executives of the companies we invest in, and focus on achieving an in-depth fundamental understanding of their businesses.

Centaurus Capital was launched in year 2000 and originated from an investment team working together at BNP Paribas since 1993.”

On another point - I find section 4 of the substantial holder form is incomplete. Of the 51.1 Million shares DB has lent out it has acknowledged PanAustralian Nominees as the registered owner of approx 1.79 million shares. The remaining balance of the 51.1 million shares is listed “unknown at the time of filing”. Appears to be a convenient way of not revealing the registered owner or owners of the balance.

I am no expert but thought this may be of interest.

Regards DB