Matty_j1878
Yer ma's favorite ITK. Mmmmmm Juicy.
Private Limited Company so no reason whatsoever to stop at 49.9 %. That's the bit that's weird. 50.1 % means you can pass whatever ordinary resolution you wish and have effective control, so why stop short of that?
Unless PL rules make it more difficult to own a majority perhaps.
To get the deal over the line initially i would presume?