Ann: Change in substantial holding , page-15

thanks for that mr Hanky.
If nick Bolton's shares are calculated using total voting shares instead of total shares ,then doesn't he have over 20% of the voting shares,if he holds no non voting shares.
total shares = 178045564
non voting shares = 5975000
total voting shares = 172070564
Nick Bolton's shares = 34501872
Nick Bolton's % = 20.05%