Ann: TNG Shareholder Newsletter, June 2019, page-114

Rumju and Maxter. Regarding PB's shares. I gave an opinion some time ago which did not seemed to be shared by our fellow members.
My theory again. If the sp was well and truly in the money he would have exercised the option. It wasn't but he had to settle so what better way than have his new number one holder pick them up. Off market and no outlay for PB. Obligations complete.

Now PB's position. 6 million shares light but as soon as the next really significant announcement is due the BoD will grant him another 6 million options,low price,exercise date 3 years. Huge margin.
Bear in mind when the 6 mill at 8.3 cents was signed off ,no one connected to the company, from directors to shareholders would ever have believed the sp to be so low.
I suggest by any measure it would have expected to be well north of 25c.
My rationale for his unusual move.