with dilution taken into account figures are :
if they maintain their current holding + 25M = 26.59%
if they sell all current shares + 25M = 20.4%
so either way they are breaking the threshold....
it would force them to make a formal takeover statement which is out of line with the intentions they have previously stated and IMHO very unlikely to happen.....
i think they are bluffing - trying to force Tsangs hand....
i reckon Tsang will move to block their application to underwrite 25M oppies......
:-)
with dilution taken into account figures are :if they maintain...
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