Chairman Roger Corbett uttered some curious figures at Mayne Pharma's annual meeting in Melbourne on Tuesday, informing shareholders that chief executive Scott Richards "will be selling up to five million shares in the current trading window to cover financial obligations, including $3 million in taxation that relates to his original 7.5 million option package". Further, Richards "will also be unwinding the structured loan facility which allowed him to participate in the [capital raising to acquire last year". Reassuringly, though, his ongoing equity holding, Corbett said, "will comprise up to 4.6 million ordinary shares".

But the last change of director's interest notice Mayne filed on Richards' behalf (and current to June 23) said he held 16.9 million ordinary shares. So where did 7.3 million shares disappear to?