Ann: Change in substantial holding from ZER, page-18

In general terms the Corporations Act prohibits a shareholder from acquiring more than 20% ownership of a company without making a full (100%) take-over bid. There are a number of exceptions to this rule, however. One such exception is known as the "creep" exception. In short, Zeta is permitted to increase its percentage ownership by a maximum of 3% every six months without making a T/O bid and still be within the rules of the Corps Act.