Ann: Change of Director's Interest Notice, page-10

I don't interpret the writings to include an intent of takeover, but rather a possibility of one where the 20% threshold is achieved, the 20% is quite black and white, I am not suggesting Brian intends to put forward aprivate takeover either simply because of his holding size.

Technically,the intent of Brian acquiring greater than 20% doesn't come into it in terms of the 20% threshhold itself IMO. Where it may come into it is under the exception provisions themselves:

• a signalled AND approved by The Board of AAU intent to acquire more than 20% of the shares on issue
• simply applying the 3% creep rule
  

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