Lanstead selling down., page-3

OK Little T - With the initial 8.5m shares Lanstead became a substantial holder and a notice was lodged.  With only 2.5m shares they are no longer a substantial holder, but no notice has been lodged. That needs explanation.

[FWIW, Lanstead did lodge a decrease in substantial holdings when they disposed of 2m shares late 2016. That is the only change in substantial holdings notice they have lodged since initial entry. From that I infer, with their comings and goings since entry, that they have not deviated by more than +/- 1% substantial holding (apart from the above instance) at any time.]

On the above basis, I cannot accept your figures or theory.