News: SVW Seven Group Holdings' Voting Power In Boral Reduces To 89.98% From 91.77% - Exchange..., page-6

I am certainly no expert I'm pretty sure the 90% compulsory is correct the problem seems to be that SVW had acquired exchangeable notes in the mix and had assumed or counted on these exchangeable notes being converted into Boral shares and they haven't been ( Exchangeable debt is a hybrid debt security that can be converted into the shares of a company other than the issuing company) Now my understanding may be totally wrong so don't take it as gospel as i'm just trying to understand how one minute we're at 96% then the next minute were at 89% It would be helpful if someone who actually knows could explain or even better that SVW would explain in laymen language ( vain hope. Its not really the SVW way to tell the mushrooms too much )