Seems to be involved in the correct timing of cell separation after cytokinesis, as separation of mutant daughter cells is delayed. Could either be an enzyme necessary for glucans-degradation of the cell wall at the neck region between mother and daughter cells or a regulatory protein controlling this metabolic step. Localizes to the septum of dividing cells. Exclusively expressed between the end of mitosis and early G1; inactivated before cells pass start. The number of the intragenic tandem repeats varies between different S.cerevisiae strains. The GPI-anchor is attached to the protein in the endoplasmic reticulum and serves to target the protein to the cell surface. There, the glucosamine-inositol phospholipid moiety is cleaved off and the GPI-modified mannoprotein is covalently attached via its lipidless GPI glycan remnant to the 1,6-beta-glucan of the outer cell wall layer (By similarity).