Posted below and taken from the ASIC Regulatory Guide 222 in relation to the timing of
substantial holding disclosures.
We should know who the big sellers Friday where soon.
Timing of disclosure under s671B
RG 222.45 Under s671B(1) of the Corporations Act, a person must give an initial substantial holding notice to the listed entity and the market operator if they have a relevant interest in 5% or more of the listed entity. The substantial holder is then obliged to give a notice if there is a movement of 1% in its substantial holding: s671B(2).
Note: A person’s substantial holding and any movements in that holding include the relevant interests of the person’s associates, as defined in s12 of the Corporations Act. See s9 (definition of substantial holding) and s671B(2).
RG 222.46 A substantial holder must give the notice to the listed entity and market operator within two business days after becoming aware of the information or by 9.30 am of the next business day during a takeover bid for the shares
TNG Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
