I went through all the Appendix 3Y's.
His initial 28 million shares were purchased for half a cent. Post consolidation it is 2.8 million shares at 5 cents.
Nathan Taylor too received 10 million shares at same price (1 million post consolidation at 5 cents) then another 20 million for free plus options (another 2 million post consolidation). No real explanation why he received those shares and options for free.
Faldi Ismail (Romfal Sifat) similar deals early on as well.
It's insane! Share price can plummet and they all make plenty (like multiples) if there are buyers.
That's the game with the re-cap companies.
If you don't believe what I am saying, go through all the Director notices from April 2010.
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