Takeover rules. You can't go over 20 per cent without making a takeover bid except in limited circumstances (eg, creep acquisitions, agreement from target shareholders). You can go over 20 per cent from a rights issue, hence why (for whatever reason) the board decided to limit people to 19.9 per cent.
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- Ann: Entitlement Issue Prospectus
Ann: Entitlement Issue Prospectus, page-242
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