Linfox buys in, page-9

A reasonable shareholding in KSC gives Linday Fox and his key delegates reason sufficient to occasionally meet with KSC's top management to discuss legitimate investment concerns. “So what?”, you might ask. Look to what Adam Smith wrote for a possible answer – “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”

There are also industry-wide concerns where it would help if competitors spoke with one voice, plus there are win-win commercial arrangements that could be made that would not run foul of competition regulations. At the current SP, Lindsay Fox is likely to get a dividend return from investing in KSC that at least equals the cost of the money invested, so holding KSC would cost him nothing. Consequently, side benefits need not be huge.

As at 30/06/2015 AA Scott Pty Ltd held 65,673,057 shares (55.84%) and no other shareholder held 5% or more shares, so we may not learn who sold shares, unless the seller was a director. Greg Boulton resigned recently, and he held 277,983 KSC shares as at 30/06/2015. As he resigned on 31/08/2015, he could dispose of those shares without having to tell anybody.