Sorry but you have two things combined in one here. The rights issue (SPP) was not taken up by Clee. He didn't participate in that, as at that stage he held 19% of the company's shares and couldn't go to 20%. What Clee particpated in was the previous CR for $1.2M. According to Clee there were no investors wanting to particpate in the CR, so he bouught the lot. You will see in an ASX statement from the company that Clee told the Board there were no investors wanting to participate, so he took up the CR himself. Problem with that is there were some investors interested - at least one I know of - and they were told in no certain terms they were not going to get any shares.
The rights issue (SPP) that most share holders didn't take up was mainly bought by Peter Dykes, not Clee - as far as I can tell he bought close to 300M of them under 3 different entities. I have written about this previously and referenced the Dykes works for OVT as a consultant. Another 50M of them were bought by Keast based on what I have seen of the share registrar.
Hope that helps in understanding who bought what.
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