Fade- I think the 17.45M will be new shares added to the post split numbers. So

Old # = 398M

New # = 39.8M + 17.45M = 57.25M

According to the last 10K, insiders (including the Qs, Ridenour, Breitkreuz) own 225M, so 22.5M post RS.

New Vision owns 84.5M, or 8.45M post RS

The non-insider, non New Vision post-split shares will be 39.8M - 22.5M - 8.45M, or 8.85M. So of the 57.25M post RS,

Insiders = 39.3%

Casino guys = 30.4%

New Vision = 14.7%

Others = 15.5%

So the insiders still pretty much control the company, unless there has been some kind of agreement we don't know about. The Qs alone will own 15.5M, or 27%. Not sure who controls New Vision now, though I have heard rumblings (speculation?) that PQ may now control it. If so, that's 54% for the insiders.

You mentioned that much of the "float" may be owned by this board. There would be about 88.5M such shares, so it's very well possible that this board owns most of those. Small consolation considering that PQ still probably has control...