Barney, I would take another look at the Top 20 holders.
BPT would need to merely secure 25.01% to get the 50.01% required to change the board in their favour. After that everyone will keel over. So getting 25% is not difficult. DLS is pretty much held by the insto's now. Retail is a very small proportion of the total shares listed.
Just how it is IMHO.
Ann: Investor Roadshow Presentation, page-156
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