Ann: Change in substantial holding from WNI , page-18

Chooseyman, if they already have 90%, they wouldn't have needed to extend the offer. The amount bought on market since the last "substantial holding" anouncement has been negligible.

In other words, they would have already had 90% before the extension judging from the warehoused shares tipped into the pile in the last week and a bit.

The 96+% is very likely to be what they have plus maybe a bit more. If they really have a lot more, there is no need to hold back and wrap it up real quick especially this joke has been dragged out but 6 months already.