Ann: Section 708A(5) Notice, page-41

That remuneration was already owed in shares. If it was money he was owed in cash I would agree that it counted as a cash contribution, but that money was already owed in shares. All the announcement said was that he giving himself more shares (paying himself the same nominal fee at a lower SP) to compensate for the pay cut. He didn't contribute cash, he just gave himself more shares.

You're right about the debt conversion, but that was 70k, not 200k.