Ann: Change in substantial holding - Tiga Trading Pty Ltd, page-4

Possibly:

1. To take a margin on the Iress takeover price of 40 cents where Tiga may have a high level of confidence the t/o will go through in September; and/or

2. To agitate for a higher t/o price thru holding a potential blocking stake.

A SOA requires 75% of votes cast to approve the Scheme. Tiga holds 17.52%, which is a long way to the theoretical 25% blocker if all s/hs vote at the Scheme meeting - whereas there are always s/h who never vote, or are apathetic, and some can't vote for various reasons, eg. platform/wrap a/cs rules etc).