Originally posted by rastes
Hi MeToo
I also see in the prospectus page 15- 3.3 another indicator/concern that adds a bit of weight to you view methinks, being the total offer will not result in any share holder becoming a Substantial Shareholder, thus the vender shares will be issued in multi Accounts, thus staying under the (5%-Substantial Share Holder) so that means MGI don't have to issue any If or when ever they sell shares, give notice ann to the market.
An aside regarding locked up shares from memory, in short - the grey/tricky by design asx rules can amend lock up shares is by a portion of them being donated to a charity another think it is via bereavement etc.
Just saying. .
Substantial holder is someone who has a
BENEFICIAL interest in at least 5% of the shares in the company. Therefore, any shares held by another entity for the benefit of the substantial holder are required to be disclosed in the notice. MGI could have a portion of the shares issued to them for the sale of AK to the Queen, the Pope and you, and all of those shares would still form part of their beneficial interest as they'd be held on trust for MGI.
