Ann: Change in substantial holding from FFT, page-8

Ah ok, thanks for the clarification. I must have mistaken the 80% threshold as that for compulsory acquisition, when instead it's the minimum threshold for the deal to proceed.

So the risks would be that a lack of liquidity means it'd be hard to 'profit' from trading the shares while they're still listed, and/or be left with shares in an unlisted company. Imagine it would be in FFT's best interests to keep picking up til they pass the 90% instead of delisting, no?