Either I'm on drugs, or the rest of you guys are on drugs....

Either I'm on drugs, or the rest of you guys are on drugs. According to the notice, Gino took up precisely 0% of his rights.

There were 9.8m new shares issued at 1 for 17. That means 166.6m shares took up their rights, and with Gino having 11.8m shares there is just enough room for him not to have exercised his rights. There is then NOT enough room for Russell not to have exercised his rights. That's not to say he necessarily holds those new shares, he may have sold his rights to someone else - who knows until we see a Change in Substantial Shareholding statement from him.