# When do you become a major shareholder?



## matty77 (28 December 2012)

Or at what % does it need to be recorded anywhere?

What factors does it depend on?


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## prawn_86 (28 December 2012)

I think 5% upwards needs to be recorded and have lodgements to the ASX. Most companies report their top 20 holders however and i have seen them as low as 0.5% for some companies


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## McLovin (28 December 2012)

Prawn is right. Unless you mean controlling shareholder? Which is actually a much harder question to answer.

If you're really bored...

http://www.acma.gov.au/webwr/aba/ne...ions/documents/ownership_control/canwest1.pdf


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## pixel (28 December 2012)

There is a difference between the Top 20 and individual "substantial" holders.
It's sometimes easy to end up among the Top 20 - especially when there's a large holding at the top and the rest is tightly held. Also note that the Top 20, or in fact the entire list of holdings, are not grouped/ sub-totaled by owner, but each individual portfolio is counted separately. That means, a Director (or any holder) may hold a dozen positions in separate accounts - family trusts, superfunds, own name, etc. - and none appearing on the list of Top 20.

"Substantial" holdings add all different accounts together and divide the number by the number of shares issued. As soon as the ratio exceeds 5%, a notice of "becoming a substantial holder" must be published. That onus applies to every holder, whose combined holdings exceed the 5% threshold, not just to company directors.


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## burglar (28 December 2012)

matty77 said:


> Or at what % does it need to be recorded anywhere?
> 
> What factors does it depend on?




Are you hoping for a promotion to Major?


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## matty77 (30 December 2012)

Thanks prawn that answers my question.

Cheers.


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## tech/a (30 December 2012)

> When do you become a major shareholder?




When you get married.

AMEN.


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