.
Not quite correct.
The shares were originally held by 5 different entities and on 24/3 the full acceptance into the bid by 1 of those entities reduced the holding by 1.5% .
This left 4 entities holding and it is possible to reduce the holding below 5% by selling all the shares of say 2 of those entities without necessarily selling the complete holding into the bid.
Jim.
Ann: Ceasing to be a Substantial Holder, page-6
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