Inc, not sure where you get that info from or whether its correct or not. I've always been told its 30 days to notify a change in substantial holding. Holders of stock do not notify each and every day their position moves up or down or are you saying they have only 2 days for each 1%? Could someone sell 0.99% in theory and not notify for 30 days despite them still being a substantial holder of more then 5%?
Look at the most recent one from JRL regarding ALY holding. Sold some on the 15/09/09 (less then 1% however)and notice came out today (23/09).
Thats just one example i can find quickly, but there are plenty i have seen that have not been notified within 2 days.
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