The announcement on 15/09/2016 Refinancing & Debt Reduction...

The announcement on 15/09/2016 Refinancing & Debt Reduction Arrangements Finalised with Pro
https://www.asx.com.au/asxpdf/20160915/pdf/43b6lptspcy765.pdf

Has the following if they had used the creep rule they may get to 67.5% (which they didn't), as suggested maybe the 85% was during the cap raising, doubt it still applies, can't find anything in recent announcements to suggest this.

For clarification, the maximum number of Shares IMC will acquire on exercise of the Options is fixed at 300 million and the Shareholder Approval up to 67.5% described in section 6.6wasonly sought to contemplate the possibility that IMC’s shareholding may increase beyond its current level in reliance on the “3% creep” exemption prior to the acquisition of Shares on exercise of the Options.