Well, here's the trade since the start of the year against the...

Well, here's the trade since the start of the year against the amount they just took in acceptances.

Trade for the year
3,431,850

Latest acceptances
3,231,022

I'd say the first two changes in substantial holdings 13/1/12 and 24/1/12 were from idiots who actually accepted, especially given the dates - before the first close date and just after.