Vintage, the language is unfortunately ambiguous.
My reference to the 1% rule comes from the Corporations Act section 671B(2).
"For the purposes of this section, there is a movement of at least 1% in a person's holding .....etc", again similarly ambiguous as your reference.
It then goes on to say "if the percentage worked out using the following formula increases or decreases by 1 or more percentage points from the percentage they last disclosed under this Part in relation to the company or scheme".
There's a formula given as follows:
Persons and associates votes/total votes in company or scheme x 100.
Clearly it refers to a change in holding that equates to 1% or more of the total company shares on issue, hence equivalent to that party's voting power.
Vintage, the language is unfortunately ambiguous.My reference to...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add PEN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
10.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $334.4M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 11.0¢ | 10.5¢ | $477.3K | 4.493M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 44 | 4389413 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 963599 | 9 |
View Market Depth
| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| PEN (ASX) Chart |