Ann: Change of Director's Interest Notice, page-5

That's a plausible assumption Rudster - if he doesn't have any available cash in his superfund, the most helpful thing he can do to help the rights issue along is what he's done. Plus he will make a small profit by selling slightly higher than 10c and getting some options as well. Perhaps he thinks the options will be worthwhile. Some current shareholders will have done exactly the same thing.

What will be more revealing is if he (and other large shareholders and company officials) participates in the rights issue by putting in more of his own cash in respect of the large number of shares he holds personally.