Ann: Ceasing to be a substantial holder, page-6

Hmm, you are over complicating things.
Aust China hold 265m shares in ANS. This was previously over 5% so they were a substantial holder under the rules.
This notice purely advises that on 19/12/19 when ANS issued more shares as per 3b notice on that date Aust China shareholdings (265m) reduced to under 5% (due to larger total no. shares on issue) and are not now a substantial holder.
(They haven't done anything with their shares!!)