Tangible, you won't see all of it in the top 20 report.
I posted once previously, maybe 9 or 12 months ago, with a bit more detail, but I can't remember exactly when. At the time, I think the percentage I came up with was around 27%. Adding up the names of Hodby, O'Loughlin, and Spinks, and I think one other that I can't remember. Bear in mind that Strategic Resource Management is management too (I paid for an ASX search on who they were 12 months ago when I was researching the shareholders, which probably might indicate to some that I went a little overboard in my research, lol, but I prefer to know facts, and not rely on rumour, and that sort of information is easily available if you know where to go).
Since then, we've been diluted, and to be honest, now that you've asked, I've just realised I've never updated my number, and my old percentage was working from an old top 20 report. I will have to update my numbers on that. I mentioned it in discussions with management a long time ago, and at the time we were discussing between 30 and 35% (the difference between 27% and the higher number was that there were additional smaller parcels not in the top 20). And so at the time I just made it a third for ease of memory.
Like I said, I'll have to update my numbers, but the additional shares to Andrew Spinks since the dilution events might have cancelled each other out. Irrespective, the point is not exactly whether they own/control 33.3% through their family and friends, but that they have a sizeable personal stake in the company, and not all of it was free shares. Their personal stakes mean that they are firmly aligned with shareholder goals, which was a massive tick from me at the time.
KNL Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
