new direction for ogy?, page-14

Johnny T unless my maths is worsening quicker than I thought the increase in your OGY share strength is 25%.
So if 115,000,000 shares is approx. 20% of all OGY scrip, including options I presume, then deleting that 115 mill. allotment would increase or concentrate a like shareholder's holding who held say 115 mill shares, by 25%.

ie. I see this fictitious holder's 115,000,000 sh. holding as being now 25% of 460 million shares on issue, whereas it was 20% of 575 million, so a strengthening of that holder's holding from 20% to 25% must be an increase of 5/20 or a 1/4, correct?
So if it concentrates that holder's holding by 25% it must also do the same for every other holder no matter how small, correct?
I am guessing the market saw the alternative was OGY being a 20% stakeholder in the unconventional gas reserves of their tenement JV with SXY.