Ann: Change in substantial holding from MIN, page-81

Jefferies2 - see the very last sentence below will answer your question. More interesting reading regarding compulsory acquisition and thresholds.

Compulsory Acquisition of Shares Following a Takeover Bid

A takeover bid is where a bidder makes an offer to acquire the shares of all of the shareholders on the same terms. The Act outlines the process of a takeover bid, facilitating a fair sale for all shareholders. The takeover laws under the Act usually only apply to listed companies or companies with more than 50 members.Suppose a person makes a takeover bid for a company but still has less than 100% interest in the company. That bidder may decide to compulsorily acquire the remaining shares. This is permissible because ASIC believes that when the terms of a takeover bid receive overwhelming acceptance, the bidder should be able to acquire any remaining shares on the same terms unless the acquisition is unfair.The bidder can then acquire the remaining shares on the same takeover bid terms if they meet two thresholds:

1. Minres at the end of the takeover bid, Minres has an interest in at least 90% shares; (Minres is short)and
2. Minres has already acquired 75% of the shares that the bidder made offers for under the bid (75% of 5.52bl = 4.14bln). (Minres is current 1/2bln short)

If Minres does not meet the thresholds, they may undertake a compulsory acquisition of shares, but only with the approval of the court. A court will permit this if shareholders in the company are unidentifiable or uncontactable, or if the bidder (minres) has an interest just below the 90% threshold.