All Mike has done is do what he said he would do i.e. sell half of his shares,he now owns approximately half of what he once did, but he also said the last half would be worth much much more than what he sold the first half for, does he know something we don't?
What you have done is to use a very clever bit of trickery with figures to make it appear more at this point which isn't quite true is it? but yes in the end that is what he will own AFTER the vote when the money comes (and come it will) due to the dilution by this company from the US.
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