Fairfax article, page-20

There is zero evidence LBT Corp are insto, they are the financiers of AK's business prior to CGB buying it. Majority of their shares were acquired in the transformation and they have topped up in capital raisings since then.

Up until recently they have been a long term holder. Their sell down aligns to AK selling his own shares as well so suggest they initially believed in the goals outlined in the company transformation.