I'm not sure sorry. Could be something to do with 5% being a significant amount outside of having to mention it in announcements - perhaps there are other considerations that are formalities with the number and Australian law? why they hover around it could be a means of testing the market or simply coincidental. Don't think I'd personally factor it in to what I do but maybe I should look into it further.
Ann: Ceasing to be a substantial holder, page-17
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