You can go over with Creep. I can't tell you the exact numbers involved sorry spec but Creep is allowed.
The general Idea is you can hold over 20% if you only add say 1% a quarter.....
Edit: others have answered but here is the definition i found.Exceptions to the 20% rule
The basic concepts described above effectively force someone who wants to acquire control of a company or managed investment scheme to only do so through one of a limited number of exceptions.
Those exceptions are designed to ensure that the three main principles are followed.
The three most common exceptions to the 20% rule that are relied on by persons who want to acquire control of a company or managed investment scheme are
- an on-market takeover bid;
- an off-market takeover bid; and
- a scheme of arrangement.
In common language, all three of these types of control transactions are described as a 'takeover'.
There are other exceptions to the 20% rule, including target securityholder approval, 'creeping' acquisitions of no more than 3% voting power in a six month period, and acquisitions as a result of rights issues or underwriting arrangements. However, those methods are less effective in reaching 100% ownership.
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