RE: Significant potential upside19 Aug 2021 11:18
I understood from the original post that it was shandypants2 assumption about foreign issuers, not that IR suggested that as the reason. IR simply said that Schroders were subject to 5% notification. A 5% notification rule applies to financial institutes, that hold the shares on its own trading books, and does not intend to exercise its voting to influence management - DTR 5.1.3 Certain voting rights to be disregarded Subsection 4
If Schroders satisfies these conditions, it only needs to notify for holdings in excess of 5%, and so would be subject to the 5% rule