I believe he only has to advise if his changes by more than 1%... if he took up his entitlement then his shareholding as a % of total shareholding would barely have changed... so probably a good sign.
If he didn't take up the entitlement, then it's possible that his holdings would have decreased by more than 1% and he would have had to disclose... without doing the math, I think it's a good sign.
Ann: Appendix 3Y - Change in Director Interest, page-9
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