Ann: Ceasing to be a substantial holder, page-92

In addition to the possible reasons Granny mentioned about early conversion, I have been wondering if conversion to shares could also have been done to have a voice in any deal if one was to eventuate with Tabcorp or to help block Bet from being acquired?

A few weeks ago, it was suggested in The Australian newspaper that the demerged Tabcorp Wagering and Media business could look at joint ventures, equity investment or even the possibility of a takeover. The actual article is posted on the Betmakers twitter account.