Where's he going to get the money?
Personal assets.
Loan.
Or he could just sell his oppies for say, 5 cents, (when the share price is 6 cents) in one large batch to someone who has $1 million in cash laying around and is happy to make a small arbitrage.
Doesn't really matter. Either way, the MD is highly incentivised to get the share price up in the short-term.
Ann: Change of Director's Interest Notice, page-34
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