Based on 1.367B. So he/they took up 135M shares in the cap raise and so have 135M 0.05 oppies too and then they sell most if not all making c. 40% (c.250K) + free carried for the 135M oppies which they can ride for two years, exercise and then dump on the market...awesome.
Ann: Becoming a substantial holder-KBL.AX, page-7
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