A change of substantial holder notice has been lodged with Resonance Health, relating to the combined holdings of The Design Counsel Pty Ltd and Southam Investments 2003 Pty Ltd, associated entities linked to Karen Panton and Simon Panton.

The notice shows their combined voting power has moved from 18.02% to 16.8%, even though the actual number of shares held has increased, from 72,546,350 shares to 80,137,174 shares. This kind of shift happens when a substantial holder's shareholding grows more slowly than the total number of shares on issue, so their percentage stake can fall even as their share count rises.

The detailed transaction history shows a series of on-market and off-market purchases stretching from 2019 through to July 2026, with the most recent being an off-market acquisition of 1,640,824 shares for $73,837 on 13 July 2026.

Both entities remain registered holders of their respective parcels, and there is no change reported in their association with each other.

This is a standard regulatory disclosure required whenever a substantial holder's interest changes, and it does not reflect any operational or financial announcement from Resonance Health itself. If you would like to understand what this means for the register or for the company more broadly, we welcome your questions through the hub.