Yes, it's due to dilution as a result of holders exercising...

Yes, it's due to dilution as a result of holders exercising options. I can see how one could overlook submitting the required paperwork under these circumstances. I would be interested to know what he thinks of the situation.

I'd also be interested to know when Jarrad Stuart and Sam Elderfield will be submitting updated substantial holder notices. As far as I'm aware, HML being in suspension doesn't exempt them from this requirement. Also, we know that their holdings have changed since their most recent submissions by the top 20 holders report included in the annual report.