By my crude reckoning based on past activity, i believe Ethicals target holding is somewhere below 5%. If this is anywhere near close then based on the last substantial holder change notice (30/9 they had 7.72%) they had close to 3% or around 5 million shares still to divest.
Considering a bit over 11 million shares have traded since that notice, if around 50% of these were Ethicals then they must be somewhere near where they want to be by now.
Regards
DYOR GLTA
TIS Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held