Your theory has legs Mr M, the only thing I would say is because Vic is a director of MSC he would have been required to lodge a change in directors notice for the underwritten part of the SPP plan for MSC. I can't find it, so I would assume Vic hasn't been required to cough up the 250,000 dollars for the SPP or else MSC haven't yet lodged the change notice...
options query, page-9
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