Cheers Beany,I thought there must be an amount a substantial...

Cheers Beany,

I thought there must be an amount a substantial holder can change there holding by, before having to notify ASX. Did a Google search and it appears that this limit is 1%.

So that means after you reach 5%, you do not need a further notice until you reach 6%, then 7%, 8% etc ...makes sense really otherwise every single transaction would have to be reported.

"Notification Obligations
Therefore, under sec. 671B, any shareholder who acquires (alone or with associates)a relevant interest in 5% or more of a company’s shares must disclose that fact by
lodging an ASIC Form 603 “Notice of Initial Substantial Shareholder” with the Company and the stock exchange. This lodgement requirement also extends to a shareholder making a takeover bid even if the initial holding is below 5%.

Furthermore, for each 1% (or more) change in holding a Form 604 “Notice of Change of Interests of Substantial Shareholder” must be lodged. And, if the holding falls below 5% a Form 605 “Notice of Ceasing to be a Substantial Shareholder” must be lodged.

These Forms must be lodged within 2 business days after they become aware of the transaction or change in % holding and by 9:30am next stock exchange trading day in a takeover situation." (companysecretary.com.au)

This means that it could still be SVH buying.

Zoid, it might be healthy to see a retrace, but I think it would be healthier to see 17 or 18c :)

Good luck.