karel is bound to be right. the individual has been with P for some considerable time (was appointed to the board from an operations position which he still holds), no doubt the options were granted him legitimately when shares were worth R4.90, or perhaps reserved at that price under some employee trust, perhaps legitimately discounted for BEE staff. he will have paid R4.90 in order to exercise, selling shortly afterward enables him to recover the purchase cost and pay his taxes. one would expect him to be subject to income tax on the R237k profit. this is nothing worth getting excited about.
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