I am definitely talking from a weak position here because I'm not sure about this at all. But is it not the case that shortly after taking over RG issued a whole new raft of shares unavailable for purchase by the likes of HSL which significantly diluted HSL's overall shareholding?

If so, what would be stopping that happening again should HSL get close to the 25.1 holding they are looking for? ... Should say 'we' coz I am a member.