Substantial Investment

A person has a substantial investment in a body corporate where– (a) the voting rights attached to the aggregate of any voting shares of the body corporate controlled or beneficially owned by the person, who either alone or with one or more affiliates or relatives or related parties and by any entity controlled by the person exceed ten per cent of the voting rights attached to all of the outstanding voting shares of the body corporate; or (b) the aggregate of any shares of the body corporate controlled or beneficially owned by the person, who either alone or with one or more affiliates or relatives or related parties and by any entity controlled by the person represents ownership of greater than ten per cent of the shareholders’ equity of the body corporate, and the term “substantial shareholder” shall be construed accordingly.