Good observation, page-19

I get that the T20 hold about 210m which is about 36%. To me that seems low. Usually you have one or two holders with 10-20% each. If the major holders have less than 5% each then that's unusual in my experience.
I suppose that's good because large holders who are funds or broker holdings tend to support the high remuneration/snouts in the trough while brushing poor results under the carpet.
It also means there is a lot of liquid stock so pushing the price around by restricting supply is harder to do. Also you can't borrow a swag of shares from just one person to short.
The only negative I can think of is that with one or two dedicated and in deep shareholders, who often have positions on the board, they drive the company with a very real vested interest.
Worrying about the T20 is something you do long after you've analysed the company for performance.