A natural or legal person who has a net short position in relation to the issued share capital of a company that has shares admitted to trading on a trading venue shall notify the F1FCA, in accordance with Article 9, where the position reaches or falls below a relevant notification threshold referred to in paragraph 2 of this Article.

A relevant notification threshold is a percentage that equals F20,2% of the issued share capital of the company concerned and each 0,1 % above that.

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The F4Treasury may by regulations modify the thresholds referred to in paragraph 2 of this Article, taking into account the developments in financial markets.