I can see the logic in paying in shares, but why now? Have they...

I can see the logic in paying in shares, but why now? Have they achieved the objectives in the incentive plan? Have they met their KPIs? (Are these written anywhere?!) Or are they just getting paid because they're a director and that's it?
The shares aren't trading on market, the company hasn't traded for what, three years, and they're gifting themselves something like 15% of the company in shares at the 'bottom' of the market.
I believe they even made a statement in the NoM 5.6(j) that acknowledges the issue of shares to related parties contravenes principals of good corporate governance as described by ASX.

This simply looks like a grab for control at the expense of all shareholders. Most of whom are too apathetic to realise, and the MMR board is probably banking on that.

By all means, those undertaking the work and bearing the responsibility ought to get remunerated, as long as they're achieving goals for the benefit of all shareholders.