Lee and TOD can only buy shares at certain times according to...

Lee and TOD can only buy shares at certain times according to security laws. Both have a holding and Lee has options for more as best I know. A search of the register would be needed to determine the exact size of the holdings. The most significant change in the equity holdings over the last few years has been the spread of share holdings i.e. the top twenty has a much reduced percentage of the total shares on issue. By contrast the note holders have had much less dilution. The two types of note holders still effectively control the coy by virtue of the default provisions.

It all comes down to the coy securing a volume long term production contract with a stable defence force, which normally would come from their home country. Aust DOD? Doh