My understanding is that Peter sold his shares (400k) on the market. He used part of the money he got to exercise options he had which would have been cancelled when the new company is set. So his shareholding will remain the same in the old and new company. At the same time he gets nice cash injection (fully deserved by the way). This would partly explain the pressure on the SP recently.
Ann: Change of Director's Interest Notice, page-10
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