No our takeover laws are very specific if they do what you are suggesting when they get to 20% they have two choices sell down to below 20% or declare that they are in the market to take over the company and that they will buy all shares offered for sale to 100% of the shares on issue. If they do not reach 95% they have to sell down their stake on market and as Peter van der Made and the inner circle hold more than 25% they cannot get to 95% or anywhere near it and they would fail and it would cost them dearly as they have to sell out at what would be a falling market price.
The only way a takeover could occur is as a friendly takeover with Peter van der Made and his inner circle approving.
2020 BRN Discussion, page-27472
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