According to webiress there are just under 249m shares on issue and O.W had 30.4m at last annual report so they now will have 54..4m - taht allows a bit of room for some stock to be issued elswhere before the O.W tranche.
Oz I expect where there is smoke there is fire so the AFR article is pointing to a new issue to new blood ?so dependening on how many shares get issued O.W will drop under the 19.9% level as you say.
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