I think Bill will explain. Might not have thought through what happens when the list goes public and not everyone has been invited. But in short, can't go over 20%, though prob wouldn't happen without PF
I'm not in the list mind you. I haven't committed. An association has been formed, without a constitution. I'm not sure what the agenda is at this point.
I'll email my questions separately
Ann: Becoming a substantial holder-PLS.AX, page-63
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