Agree with Alekhine's post above. I believe index inclusion criteria takes account of "free float" only and that all shareholdings in Turners qualify as such.
The last Annual Report, for FY23, indicates a spread of over 4800 shareholders. The Chairman, Grant Baker, has 7.44% via Montezmolo Holdings Limited, Director Alaister Petrie 12.24% via Bartel Holdings Limited and Director Mathew Harrison 7.47% via Harrigens Trustees Limited and other family interests. These shareholdings may be both beneficial or as trustee. Even Todd Hunter, CEO, has almost 1% so there is plenty of skin in the game.