Spenceley's decisions are nothing at all like you said - that's...

Spenceley's decisions are nothing at all like you said - that's prob why your "little peasant mind" is "boggled".

Spenceley's not an idiot - he probably sees value in keeping an investment in the company he did create. Of course there is risk but he prob sees a reasonable investment and again, when your cost base is Nil, the risk is mitigated somewhat. The money has to go somewhere and he may not have any ideas for that portion yet. Having said that, don't forget that he sold the majority before he resigned. Up until today he was still a director - now that he is not a director, I wouldn't be surprised if he decides to sell his remaining stake - Grist too...