When there’s a change of substantial holding the disclosure needs to happen within two business days of the change to the substantial holding. A ‘substantial holding’ is defined as being an interest of more than 5%.
In this case the change occurred incrementally through on market transaction, and was reported on Friday 31st July. The formal announcement was reported today. This is all consistent with the Corporations Act.
@auro - This announcement should be considered to be positive, even though this isn’t actually ‘market sensitive’. As @tbrin commented, this is a highly sophisticated investor increasing their holding. It certainly gives me confidence in my own (much smaller) holding!
GLTAH and DYOR
When there’s a change of substantial holding the disclosure...
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