sophisticated investors

Ok so doing a bit of research I came across this data. I'm surprised nobody had discussed this earlier, maybe it has been covered, but I missed it. Anyway it all happened so close together, that it's hard to tell if directors had a chance to refuse this 'sophisticated investor' a chance to participate in future offerings. It's pretty sick to see how much money was skimmed from investors though. It's also apparent some of the big holders are willing to sell down in anticipation of picking up some shares cheaper down the track - seems likely this has been going on the whole time, but without the data who knows.

24/06/2009
Securities & Investment Group Pty Ltd acquires 87,500,000 ordinary shares, representing 18.68% Company's voting power.
Purchased for a consideration of $350'000 (0.4c). Share price approximately 1.5c at this time.. ?

08/07/2009
Stirling Products Limited announced the change of interest of Securities & Investment Group Pty Ltd from 18.68% to 5.31% in the Company.
I don't have the *exact* figures, but quick adding up is $996'000 received for sale of approximately 59m shares, sale price average circa 1.6c

28/07/2009
Stirling Products Limited announced that Securities and Investment Group Pty Ltd holds 66,035,088 ordinary share representing 11.4% issued share capital of the Company. Earlier Investment Group Pty Ltd had an interest of 28,535,088 ordinary shares representing 5.31% issued share capital of the Company.
Purchased 37'500'000, for a consideration of $300'000 (0.8c). Share price currently around 1.5c. So after this sophisticated investor dumped 60m shares onto the market, purchased another 38m shares back at 0.8c (maybe this was through convertible notes??).

Now there are no substantial holder notices from that point on, and I have no idea why. However an *unverified* third party post of the top 20 holders as at March 2011 shows Securities and Investment Group Pty Ltd to have a 30'000'000 (1.528%) interest. How did that happen without a substantial holder notice? Anyone know the rules regarding form 604, change of interest in substantial holder?