I would bet the bank that the 500,000 unlisted options...

I would bet the bank that the 500,000 unlisted options excercised today were ex Director John Ceccon's.

They were held via Vermont Capital Pty Ltd, and I anticipate they will be sold very quickly if they haven't already been disposed of. It's more likely they've already been sold.

His other major holdings via the MCCM Super Fund and MCCM Pty Ltd (both held ~1M shares) disappeared very quickly after he ceased employment with TRH in May 2010.