capping proof, page-18

Good Evening Baron and others,

Had a thought tonight on the way home from work....
why have we not seen any sub holder ann?
Do you think that there might be one or even two company's out there sitting there with 4.9% awaiting the ann before claiming more stock. Therefore remaining silent and under the radar, picking up say 4.9% on the cheap and then picking up more on the way up to maximise profit?

would make sense?

just an idea - it has been doing my head in since we saw the volume increasing last week, and with some large purchases today.