@nexusb, the rules below were posted on another forum. Umless I have missed a change in substancial holding notic and in case there was a change of holoding for that mysterious insto placement, if the following rule applies then that inversor may well be in breach of the rule and if GPP management are informed of the situation re change (if sub holding change did take place) but management failed to act they may also be in breach of some rule .... not sure, so DYOR.
TIMING FOR GIVING NOTICE
RG 5.297 The timing for giving a substantial holding notice varies depending on whether the listed entity in respect of which the substantial holder is giving the notice is the subject of a takeover bid.
RG 5.298 Where the listed entity is not the subject of a takeover bid, the substantial holding notice must be given within two business days of:
(a) the person becoming, or ceasing to be, a substantial holder in the listed entity; or
(b) a movement of at least 1% in the person’s substantial holding in the listed entity.
RG 5.299 This timing is accelerated during a takeover bid, when the substantial holding notice must be given by 9.30 am on the next business day: see RG 5.302. RG 5.300
In either case, a person must give a substantial holding notice whether or not they have completed a larger investment move or unwound their investment position within that time: s671B(6)(a).
GPP Price at posting:
0.5¢ Sentiment: None Disclosure: Held
