His buying is covered under the creep provision of the...

His buying is covered under the creep provision of the corporations act. He can increase his stake by up to 3% each 3 months. He went over 20% around mid september 2008 so can buy up to about 23% by mid march this year.

He currently has 22.4% of the company's 129,115,756 shares on issue. So he can still keep buying. The rule is that in any 6 month period from now on, his stake cant be more than 3% higher than it was 6 months earlier. So in 6 months from now, his stake is allowed to be up to about 26%. Hope that makes sense.