That's how I read it. In quick terms, it was over a mil, Malcom gave up $400k odd, the balance was RT's as he remained ($673k). With this issue for $200k worth of shares at 18c, the $673k, which was RT',s has been wiped. Originally the deal was half cash, half script. Per Crone's pos,t he confirmed it with Robyn at VOR.
Cheers
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Ann: Management Share Scheme Strategic Review, page-41
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