extension ??, page-4

Whether or Not there is a takeover in place, the most any party can own in a listed company is 19.9% without making a takeover with 2 exceptions - 1) the holder of the 19.9% stake or higher can buy a maximum of an additional 3% of the issued shares every 6 months under the "creep" provisions of the Act, 2) by scheme of arrangement where shareholders of acquiree company approve - usually restricted to new floats/ cornerstone investors/ debt / equity reconstructions.
As a side issue and I stand to be corrected but IMO Hanlong have only issued notice of their Intention to offer a takeover proposal.