EXG excelsior gold limited

On or around the 14th of January this year there was a notice to...

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    On or around the 14th of January this year there was a notice to the ASX that David Hamlyn M.D of EXG received 3 million shares. Now my understanding is that he paid zilch for those shares, which effectively dilutes the value to all shareholders.
    Am I correct?
 
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