I recall from earlier this year after the Pattersons share placement, Eshmun pointed out that HUAYOU needed to lodge a change in substantial holder statement to the ASX. The change in shareholding occurred because Huayou had not taken up their full entitlement under the SPP, result their shareholding had become diluted from 11.49% to 9.49%.
From memory they hastily lodged a form 604 to the ASX later that day or the next.
My understanding is that substantial holdings between 5% and under 20% are required to lodge a change of substantial holding form 604 within two business days, whenever there is a movement of greater than 1% up or down, and/or the holding falls below 5% regardless of % sold.
If the share placement to Yibin Tianyi is voted in by shareholder, Huayou will have further diluted their holding in AVZ to 8.27%.
Combined Yibin and Huayou will have 20.27% holding in AVZ, as they are not a single business entity this would not trigger a takeover.
Lithium ETF have recently accumulated 1.65%, hopefully they continue buying as we need diversity on the share register.
I wish I could attend the AGM on 29 November, I looking forward to reading the transcript of Dr J Clarke's first AGM address.
If they can get this huge lithium deposit up and running, credit to them.
GLTA DYOR
AVZ Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
