Ann: Change of Director's Interest Notice, page-12

how can you fill out the 2a incorrectly it states as plain as day

4.2
*Are the +securities to be quoted being issued for a cash consideration?

If the securities are being issued for nil cash consideration,
answer this question
250,000 -yes ( yes being yes they are a cash consideration )
9,810,893 - No ( no they are not up for cash consideration )

Looks to me he has converted under the following formula for a cashless consideration
as follows

(a) exercise all or a specified number of Options;
and
(b) either: (i) pay the Exercise Price in full for the exercise of each Option, in which case, the notice must be accompanied by a cheque made payable to the Company for the exercise price for the Options; didnt happen
or
(ii) if the Optionholder elects to use the Cashless Exercise Facility,
the Optionholder acknowledges and agrees that the number of Shares to be acquired by them will be calculated in accordance with the following formula:

S = NO x [(MV-EP) ÷ MV]
where:
S = the number of Shares to be issued on the exercise of the Options;
NO = the number of Options being exercised;
MV = the market value of Shares (calculated using the volume weighted average price at which Shares were traded on the ASX over the 5 trading days immediately prior to the date of exercise);
and EP = the Exercise Price

looks like that is what has taken place