Ann: Ceasing to be a substantial holder from MVT, page-4

My guess is they only sold some INA on market to subscribe for the rights issue without boosting their holding. So thinking they probably still have near 60% of funds in the stock. If they really did reduce their exposure by half then wouldn't that deflate the post tax NTA with tax payable on the capital gains?

Maybe the INA major shareholders list saying MVT owns 3% is not quite right? Either out of date or is part of MVTs holding under a different name not being counted there?