Ann: IEC Update January 2019, page-8

Yes I can't blame them. Anyone who bought a few million at 1c just made a 50% profit.

Top 20 hold over 70% from memory. Actually,..... I just checked. It was 72.57% as per the annual report 27/09/18. Since that time, David Schwartz has increased his holding from 0.77% (3 Million shares) to a holding of 15.155Mil, so the top 20 hold even more % now. Their total holding is now 6.67% and it's probably Mr Schwartz buying more at a guess.