Hence the acronym imo being used. My opinion only!
He owns a lot I believe, I'm sure you can find out if your read a recent annual report.
Again I know as much as you going by announcements, my view is he will walk away completely once transaction done but that's my view. I would think he would have none other than a shareholder.
That is standard for every explorer in the market and you know it. Explorers are best held short to medium term or get diluted.