Ann: Change in substantial holding from PPT, page-5

i honestly have no clue. generally when there is a big downgrade, funds pull out their money or panic. especially large funds that have to report losses to their investors. for them to add more and not sell kind of makes me wonder if the statement on ebitda of 32 mill after non-recurring project costs means no restructuring costs. this would mean higher profits and higher dividend payment. the annual report in fy 19 even indicated that the increase in dividend was because management was confident in reporting higher earnings. if i am management utterly failed to make this clear.