We announce the structure theorem for the H-2(M)-generated part of coh
omology of a compact hyperkahler manifold. This computation uses an ac
tion of the Lie algebra so(4, n-2) where n=dim H-2(M) on the total coh
omology space of M. We also prove that every two points of the connect
ed component of the moduli space of holomorphically symplectic manifol
ds can be connected with so-called ''twistor lines'' - projective line
s holomorphically embedded in the moduli space and corresponding to th
e hyperkahler structures. This has interesting implications for the ge
ometry of compact hyperkahler manifolds and of holomorphic vector bund
les over such manifolds.