The timing for giving a substantial holding notice varies depending on whether the listed entity in respect of which the substantial holder is giving the notice is the subject of a takeover bid.
RG 5.298
Where the listed entity is not the subject of a takeover bid, the substantial holding notice must be given within two business days of:
(a) the person becoming, or ceasing to be, a substantial holder in the listed entity; or
(b) a movement of at least 1% in the person’s substantial holding in the listed entity. RG 5.299 This timing is accelerated during a takeover bid, when the substantial holding notice must be given by 9.30 am on the next business day: see RG 5.302.
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