I'm getting confused and was trying to make sense of it by considering the UK code. Thank you for the clarification.
There are exemptions that allow a company to increase its holding in an Australian company without trigging a compulsory takeover offer. Section 611 of the Corporations Act 2001 covers those exemptions. One of them is 3% acquisition every 6 months.
Assore just bough 3.9% of Atlantic and was already past the 19% takeover threshold. This is beyond that 3% threshold so is not exempt from triggering a S606 compulsory offer. None of the other exemptions appear to be in play.
How do you legally acquire 3.9% and not trigger a takeover given Assore's starting position is from >19% of the company?
Ann: Change of Director's Interest Notice - A Harsas, page-24
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