Ann: Entitlement Issue of Options Withdrawn , page-7

Dr Lakshnan
Jayaweera
28 ,549 ,494
Lucky you are probably correct. This is the number of shares the chairman holds...according to last change in substantial holding notice. So it would have cost him $285K, plus another $1.142 mill in 2 years. total 1.425 mill.
I believe at least one director was supporting the proposal...don't know if it's him. You would like to think so otherwise he doesn't believe the companies will be worth 5 cents in the next couple of years.

Just cant get my head around the rationale.