Great, thought that I had missed something.
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Looks to be online, the following is from their notice.
Notice is hereby given that the 2020 Annual Shareholders’ Meeting of Pacific Edge Limited willbe held online at http://www.virtualmeeting.co.nz/peb2020 on Wednesday 5 August 2020,commencing at 3.00pm.
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does the total number of shares get diluted? AMP bought more shares but percentage down to 4.74% from 5.50%.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PEB/357168/327427.pdf
AMP Capital Investors (New Zealand) Limited
For last disclosure,
--(a) total number held in class: 25,644,970
(b) total in class: 466,321,801
(c) total percentage held in class: 5.50%
For current holding after ceasing to have substantial holding,
(a) total number held in class: 34,330,651
(b) total in class: 724,143,563
(c) total percentage held in class: 4.74%
Details of transactions and events giving rise to ceasing of substantial holdingDetails of the transactions or other events requiring disclosure: Purchase of 8,685,681 Shares. between 01-Mar-2018 and 28-Jul-2020
Bit confused by this
https://www.nzx.com/announcements/357168
Didnt check the dates.AMP have increased their holding by 9m or so.All good
Suspect that the law of unintended consequences has struck.
It may be the result of the 33 million increase in ANZ holdings that has changed AMP from having a substantial holding (over 5%) to not having a SSH( less than 5%) despite the purchase of more shares.
Since the date of last disclosure in March 2018 there have been several capital raisings and each time AMP may have participated but not getting enough to maintain the 5.5% and has been inching down slowly towards 5%
ANZ suddenly stumping up for 33 million new shares may have dropped their percentage below the 5% threshold.
Will be interesting to see if they are keen to resume their former status by buying even more thereby precipitating another disclosure notice.
yes, ANZ 33 million might be the cause of AMP percentage drop to 4.74% as Minerbarejet mentioned. Cheers.
Several capital raisings since 2018 that AMP have not participated in that brought the total to 691m and AMP maintaining an over 5% holding to the point where ANZ splashed out.
Whoops.. total shares 466 > 724. Their holdings were 25m > 34m
-(a) total number held in class: 25,644,970
(b) total in class: 466,321,801
(c) total percentage held in class: 5.50%
For current holding after ceasing to have substantial holding,
(a) total number held in class: 34,330,651
(b) total in class: 724,143,563
Another thing that should be considered is that others may have been accumulating up to a point just below 5%. This would drop the percentage ratios elsewhere too.
I would suggest that this pretty well says that there has been quite a considerable amount of accumulation elsewhere if a holding percentage drops by that amount despite accumulation of their (AMP) own.
But that is precisely the point, the number of shares have not remained constant and with every new issue via placements or CR the percentages will change.
Dilution.
Sp firming a little towards the AGM on Wednesday.
So are there announcements in the offing to be made then?
http://nzx-prod-s7fsd7f98s.s3-websit...785/325832.pdf
Notice is hereby given that the 2020 Annual Shareholders’ Meeting of Pacific Edge Limited will be held online at http://www.virtualmeeting.co.nz/peb2020 on Wednesday 5 August 2020, commencing at 3.00pm.