I'm interested if Euroz are buying IAM for their stockbroking...

I'm interested if Euroz are buying IAM for their stockbroking clients or for their two LIC's - Westoz Investment Company (WIC) and Ozgrowth (OZG). Or maybe a bit of both?

No substantial shareholder notice will have to be issued if it is client buying, however they will have to issue one if the combined holding between their two funds exceeds 5% of IAM's issued capital (the ~67M mentioned by fontisboss, above). If this is the case, I suspect they'd try and hold off issuing a notice until they'd pretty much completed their buying.

Both LIC's issue a Net Tangible Asset Backing announcement at the start of each month, which discloses any companies that make up over 2% of each portfolio.

WIC has net tangible assets of ~$161, so the IAM holding would need to be almost 100M to be separately noted in this announcement. OZG has NTA's of $78M, so the IAM holding would need to be about 50M to be separately noted.

IAM definitely doesn't show up in their disclosed portfolios as at 28th Feb 2018.