I think Dma was intending to say that Robert Hunter is now a...

I think Dma was intending to say that Robert Hunter is now a 'significant' shareholder. While he knows the present share price is amazingly cheap, RH's other purpose may be to build his holding so that there cannot be a hostile TO. When a company has an excellent range of products and begins to have a world footprint, other (larger) companies start taking notice. It is protection against this vulnerability.

After a Rights Issue or a SPP, a company normally plans to make a significant ASX announcement to give shareholders confidence with their increased holding. If the company does not do this (and PLT hasn't), people begin to offload after a time and this is now happening.

Juke