I had a quick look at the '20% rule', these are the situations in which it doesn't apply:
if you make a takeover bid
through a members scheme of arrangement
if the target’s security holders approving the acquisitionby a resolution passed at a general meeting
in creeping acquisitions of 3% every six months froma starting position above 19.9%
for pro rata rights issues or in certain underwritingscenarios
and in certain exempted downstream acquisitions.
Ann: Change in substantial holding, page-8
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