Thanks Kacy,The insto explanation you give sounds plausible....

Thanks Kacy,

The insto explanation you give sounds plausible.

Does anyone know whether the 19.9% rule applies through SPPs?

i.e. If Deutsche oversubscribe, will we need shareholder approval (or a formal takeover) to issue shares to Deutsche beyond the 19.9% limit? Or could they suddenly have, say, 30% post-issue, then have to announce an intention for a takeover after the fact?

I suppose the same could apply to any of the other substantial holders (e.g. Creat).