"Also see ASX release dated 17/08/2016, where he's sold approx....

"Also see ASX release dated 17/08/2016, where he's sold approx. $650,000 worth of options in order to get an institution on board (see ASX release dated 29/08/2016)"

Attracting an institutional purchase seemed like a good idea at the time, probably was a good idea and probably still is. But time has proven that the particular institution was not. He made a comment at the AGM about the insto having had a run of redemptions and having to cash out to cover the demand. Luck of the draw I suppose.
Without having the figures to hand, I assume the insto made money on cashing out rather than losing money?
Perhaps they saw an opportunity to flip the shares rather than be in for the long run?
I would be surprised if any institution would care, pure and simple they want to make a profit.

Likewise I too am pleased that the directors are not into share issues, or dilution. I have been burned by that with other companies.