I have a feeling that Stock Exchanges the world over are more lieniant towards Banks,Mutual Funds and Unit Trusts over disclosures. They have so many fund managers buying and selling different holdings they may not always be aware they have exceeded set limitations. It is only when they do a reconciliation that this comes to light. Then a department will have to complete the obligatory forms and send them off to the relevant stock exchange. This is all time consuming and will lead to delays.
On the other hand one party actively purchasing shares prior to making a bid should be very well aware of their position immediately it breaks through a percentage level and any delay on their part is not so easy to explain away
I do not see anything sinister in large investment houses being late with information it happens all the time
HDR
hardman resources limited
