Wow, that's an incestuous looking little group! Makes you wonder...

Wow, that's an incestuous looking little group!
Makes you wonder why the "apparent" dilution of the shareholding between so many different entities, especially when they all seem to have common owners.
That's a substantial block of shares acquired over a period.
Interesting that part of this group seems to be the party that arranged the latest capital raising (as Lead Manager) and received part payment in shares and/or options (sufficient, it seems to have pushed them over the threshold to "substantial holder" status) as well as cash.
Whilst there is no suggestion of conflict of interest in this, and given that these entities seem to be owned by two individuals whose careful acquisition of TikForce shares date back to end October 2016, it just seems strange (more so when you can see that many shares acquisitions of EZR and Cityside occur on the same dates), that the Lead Manager in the recent CR was one of these associated shareholders.
Is this normal? I'm afraid I don't have the experience or knowledge to tell but I'd appreciate a more seasoned viewpoint.