XPE Lounge, page-2466

Hi Primo

But ASIC and the ASX requires the multiple accounts to be aggregated if a single entity has an interest, hence if you had 5 accounts then each account could only hold 0.99% max for the entity to be under the 5% substantial holder threshold.

If this is incorrect, can someone correct me, if not, that is why I do not think there is significant accumulation happening, a new T20 report could prove me wrong, but based on the last report it is not clear.

Having said, that if an entity held 4.99% it would equate to approx 105 million shares over say 5 accounts would be 20 million in each account, thus would show up on T20 report.

The cutoff, at the moment for T20, is about 8 million, so to be under the radar they would need a minimum 13 separate accounts, which is possible.

Maybe we might see another T20 report in the next couple of weeks which would help clarify things a little.

Regards

Rayda