ISXFEU Share Buyback, page-60

Yes, the CEO, his family and associates own a majority of the shares. The control of the company by the insiders has been instrumental in its response to the scandal, arguably always with a focus of protecting their interests hence the demerger. The shares were obtained primarily from the issuance of the tranches of performance shares (about 30% of the company in total) in 2018, which ASIC contends were issued in circumstances that were in breach of the Corporations Act. Specifically, ASIC alleges the issuance of the performance shares was done in a way that they conclude was for the purpose of enriching management at shareholder's expense (the CEO is being sued personally alleging he abused his position as a director, hence why the want to ban him along with other alleged transgressions).