Apologies, you're right - I mis-read (or perhaps misunderstood is a better term) the following from appendix 3G - it contains the following on pages 5 and 7. I was originally thinking his consideration was priced at $0.313 as in answer to the question below. You are right - he didn't pay anything.
Page 7 of Appendix 3G3B.8b
*Exercise price
The price at which each option can be exercised and
convert into the underlying security. If there is no
exercise price please answer as $0.00.
The exercise price should be provided per the
security currency (i.e. if the security currency is AUD,
the exercise price should be expressed in AUD).
Refer to answer to question 3B.1
Page 5 of Appendix 3G
3B.1
*Security description
a) 1,000,000 options exercisable at
$0.313 expiring 36 months from
the date of issue.
b) 600,000 options exercisable at
$zero expiring 48 months from
the date of issue.
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