SYR syrah resources limited

Ann: Becoming a substantial holder, page-3

  1. 22 Posts.
    Can someone enlighten me please, where the first page of the relevant document states

    Holder of relevant interest = JP Morgan
    Nature of relevant interest = "Holder of securities under an obligation to return under a securities lending agreement"

    Does that mean that JP Morgan have borrowed the shares (presumably to short them) or does it mean that JP Morgan own the shares, and have lent them to another entity for them to short them?
 
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