valvesound, under the corporations acts there is a clause called...

valvesound, under the corporations acts there is a clause called the creep provision, which allows a party to go over the 19.99% by no more than 3% so I'm not sure if this will help to get your answer, however you need to add 8m on the total shares on issue + add 8m to his total shares on issue and then I believe you divide it by 8m which will give you a % increase of the extra 8. if that % falls under 3% there is no need to offload any shares hence the decline in share price wouldn't be him selling into the market. now this was told to me by a good friend of mine who's in the industry, so I'm just passing on that info. i hope it helps or I've just made myself look damm silly!!