Ann: Becoming a substantial holder-NEC.AX, page-2

This might convince any shorters and in particular the Macq shorter to cover their position because this share register is incredibly tight - Top20 shareholders held 94.6% of the stock at 2Sep16 and now Allan Gray has purchased 7.93% since 1Sep16 - it must be too dangerous for shorters now as there mightn't be too many in the Top20 willing to part with their shares at this price. Known substantial shareholders are holding in excess of 80%.
Allan Gray is a known value investor who doesn't lend his stock out to shorters and usually hangs on to a position for an extended period - he has purchased his stock at an average of 93.5c.