Ann: Change of Director's Interest Notice, page-3

The way I read it, ENN has provided a (MARGIN) loan to Glenn Willis, using his current holdings as security. They have lent him 4.25m x $2.15 to acquire 4.25m unlisted shares at $2.15 each - although there probably was no exchange of money involved. He still has the obligation to repay the value exchanged.

They have also given him (for free) 2m options exercisable at $3.05. Not sure of the expiry on those options.

Not a bad endorsement foe ENN.