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11/09/18
04:57
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Originally posted by Y4ukikmycow
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[...] not sure how Redstone were allowed to not submit the notice of increase in holdings as it was my understanding that each time they increased their holdings by 1 percent or more they were bound to inform ASX of the increase, funny how they went from just over 71% to over 75% without a notice
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Originally posted by groundhog2
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If your analogy is right Y4 someone made a significant dump on Friday. The variation in the % reveals that they rose from 71.29% to 75.40% - close to 400 million shares. The amount of shares traded on the ASX last week did not suggest that much activity. I wonder too - give the closing date is this coming Friday why someone jumped in a week early - particularly given that it lifted shareholding over the 75% threshold.
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Page 1 of the 604 Form shows 362 million shares were accepted into the offer by their owner(s). This movement on Friday explains the jump and why the notice came out yesterday.