Who is the "substantial shareholder"?
What Is a Substantial Shareholder?
- A Substantial Shareholder is an individual or company
- That directly or indirectly holds 5% or more of the voting shares in a Public Company
How Is Shareholding Calculated?
- Shareholdings may be held:
- Directly
- Indirectly
- Through a nominee
- If you are the ultimate beneficial owner
- Those shares will generally be counted towards your shareholding
What Are Voting Shares?
- Voting shares are shares that carry voting rights
- They do not include:
- Unissued shares
- Shares that carry voting rights only under specific circumstances
When Are You Considered a Substantial Shareholder?
- If you control 5% or more of the voting shares of all classes in a Public Company
- You are legally regarded as a Substantial Shareholder
Summary
- A Substantial Shareholder may be an individual or a company
- Shareholdings may be direct, indirect, or held through a nominee
- The legal threshold is 5% or more of the voting shares in a Public Company
- Meeting this threshold makes you a Substantial Shareholder under the law