Just to be clear I don't 'know' that's the case re: the 30% rule. It's just what I vaguely recall reading somewhere.
I know for a fact that at 30%+ of the company, the accumulator is obligated to make an offer for the rest of the company (which can be accepted or rejected by shareholders, and if it is rejected the accumulator is still free to increase their holding further via buying shares in the open market).
It's just in the UK at least, the vast majority of us do not actually 'own' our shares- they are held on our behalf by brokers (i.e. iii, Halifax, Barclays etc). I've see a notice of holdings issued for just 3% of the issued share capital, but I think that only applies when the buyer actually 'owns' the shares.
Could be wrong though- it's a bit difficult knowing for certain because of the duel listing and different rules applying to different exchanges.
RRS Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
