Ann: Change in substantial holding, page-54

I am not a full bottle on all that is going on.

But I have read that TAP had taken a 75% piece of Northern Gulf, back in 2010. So it is unlikely that Northern Gulf could mount a take over without the TAP Board knowing about it, or being part of it.

What I have seen so far in other companies, is that when share prices get too low, so low that a potential take over could be on. One or several major shareholders will take a greater stake, so as to be able to block a potential take over and ensure fair value. Obviously, they would know the numbers necessary for that to take place, whereas I would not even have a guess.

My take on it.