According to Section 136 of the
Companies Act 2016, a substantial shareholder is defined as:
- A person who has an interest in one
or more voting shares in a company and the number or the aggregate
number of such shares is not less than 5% of the total number of
all the voting shares included in the company; or
- Being a company the share capital
of which is divided into two or more classes of the shares, if the
person has an interest in one or more voting shares include in one
of those classes and the number or the aggregate number of such
shares is not less than 5% of the aggregate number of the total
number of all the voting shares included in that class of
shares.