Form 306 submitted May 6th they had 55,952,388 shares. Form 605 submitted September 30th shows they took up a further 2,346,127 shares 19 June (sub-underwriter of the retail entitlement) which made their holding 58,298,515 at that point. Then they started selling in July and had sold 7,000,001 shares up and until 30 September.
As of COB 30th September they still had 51,298,514 shares and, as you correctly indicated, they no longer need to report because they are under the 5% threshold.
This is why I sold out for now - they still hold a large amount of stock (when compared with daily turnover) and had been increasing there selling rate towards end of September. It would be impossible to offload that stake (sans block trade) without severely impacting the SP.
TNC Price at posting:
2.6¢ Sentiment: Sell Disclosure: Not Held
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