@mushroompanda im with you, makes me wonder about all the sellers absorbed and the share price marking time. not ideal. imagine if they ever want out.

@mushroompanda your perspective is interesting. I am also nervous - not knowing their motives nor their investment approach.

I'm OK if they pick winners and hold for the long term, If they move in and out of their other holdings, then I'm concerned about future volatility as @Solvetheriddle

My worries will increase if they continue heading towards a controlling stake (albeit there is a way to go for that). As you say, there is no evidence of a mandate to take it private but also no evidence that they can manage business operations if they controlled a business.

Its far and away their biggest holding. You'd think they'd maybe be concerned about concentration risk - but why then take on another 1%? Has to be super high conviction otherwise you'd think there'd be other places for their capital. Let's hope the conviction lasts!

Can someone explain to a dummy like me what is the most they can hold? Are they able to just continue to accumulate?

is there a point where something must give? Eg a takeover

I have had the same thought previously where they don’t have anyone on the board which I always thought was odd given the amount they hold.

I have always not understood what toplines intention is with DSE. Unlikely they want to take over this company as they are a fund and not in a position I would imagine to take it private. They have not sold shares at this point and I can only imagine they are in it for the same reason as the rest of us in making money. It’s always been strange to me. It’s a huge percentage they own. From memory they also have quite a significant share in $PRO.

@jayjayjayjay as i recall from takeover law which i did in 1982, if you buy over 20% in one go you need to launch a bid, once at 19.9% you can use the creep rule, 3% every 6 months. there are restrictions on how much you have to bid as well,

This is all very interesting! A bit of investigating and I see this Hedge Funds holds two other AUSTRALIAN listed companies EOL and PRO. Both also in the software and IT service area. DSE though is a significant (~30%+) holding of their total equity assets.