what do people make of substantials?, page-3

I'm confused,

seems odd to me that deutsche (dutch?) bank would start accumulating at the end of october, and just happen to make it to substantial holder now. To me, they would know of the forth coming Shell proposal, if not directed by shell to start accumulating?

its hard to believe they would be acting on behalf of someone else, as at the end of october aoe was still trading at the relative high of $4.3, its not like they had tanked and an opportunity appeared.

I just don't understand how this could not be related to shell/china jv? and maybe thats perfectly fine if they were to instruct someone to start accumulating shares on their behalf, however i don't think so.

can anyone comment on this scenario and the legalities of this?