This is a very positive announcement, a clear signal to the...

This is a very positive announcement, a clear signal to the market, and a show of support to all holders.

Manipur now holds ~6% and has been consistently accumulating on market for the past two months. I continue to hold ~1.23%, and there are clearly a large number of holders who have been contributing and/or reading this forum. Every parcel of shares helps, irrespective of the size.

It is becoming increasingly difficult for RG to reach the required 90% but it still requires holders to continue to hold or only sell on market above the offer price. Even though it is of lower relevance, the greater the number of marketable parcels (worth >$500) in different accounts that everyone can maintain, the better.

As suggested in a previous post, this positive announcement from Manipur is why Pact / RG published their Letter to Shareholders yesterday.

The advantage that Manipur and other holders have is that RG has mandatory reporting requirements so it is easy to monitor the rate of accumulation. Obviously, the larger the buffer from 90% the better but Manipur can always slow / adjust their rate of accumulation as needed. There is only a very limited number of large holders that could sell to RG, which could trigger a large unexpected increase in his holdings.

Just a reminder that according to ASX Continuous Disclosure (3.19A.2) requirements, Appendix 3Y (Change of Director’s Interest Notice) must be submitted no more than five (5) business days after the change occurs. Even if only one share is acquired RG needs to comply with the reporting requirements.

RG also needs to comply with ASIC Form 604 (Notice of Change of Interests of Substantial Holder) whenever there is a movement of 1% or more from the last notice. During normal trading the notice must be given within two (2) business days. However, during a bid period the notice must be given by 09:30am on the next trading day.