This is the curious story we are meant to believe about the driving force behind the creation of G8 Education, Chris Scott, who will step down as an executive director of the group after this Monday's shareholder meeting.

It will not be a fun meeting given the tough run the childcare operator has experienced recently.

The company looked like it had got its groove back earlier this year when foreign investor, China First Capital Group, offered to fund its debt refinancing - as well as the purchase of childcare centres it had already agreed to buy - via a $212.8 million share placement at $3.88 a share.

It all started to crumble when an analyst report sent G8's share price tumbling with the news the supply of childcare centres in Australia grew pretty strongly in the March quarter, and a lot of these new centres were popping up within shouting distance of G8's centres.

The share price tumbled and all of a sudden the Chinese investors were not so keen to follow through with the main portion of the share placement this month.

G8 went ahead last week with a $100 million replacement raising at $3.20 a share to institutional investors and it looks like the share price will be camped out in this territory for the forseeable future.

Especially since the company admitted to a fall in occupancy levels at its centres - a crucial metric for profitability.

"We are concerned about the over-supply of childcare centres and the fall in G8's occupancy rates to 78 per cent as at the end of April, the lowest the company has reported since 2011," said Morningstar.

But back to Scott. According to his director's interest notices to the ASX, he did not hold a single share in the company for the first five years he was with the group starting in 2010.

It was a big miss. The stock price went from 23?? to a high of $5.60.

The company attempted some sort of remedy in 2015, offering Scott and other senior executives an interest free loan to acquire 1 million shares at $5 a pop - if certain performance conditions were met.

Scott handed his shares to an unidentified nominee, so it probably doesn't matter that 667,000 shares have already been handed back to G8 - which wears the loss on selling the stock for far less than the $5 originally paid.

But as CBD has reported previously, there are at least two women associated with Scott who have still managed to make a buck from G8.

His former wife, Juwarseh Scott, owned 5.6 million shares at one stage. There is also the mysterious Kimberley Yin who owned 14 million shares in her own name and via a company called Geosine.

The company was once owned by Scott and his son, but was transferred to Yin, who happened to share the same Gold Coast address as Scott, according to ASIC documents.

"She has nothing to do with G8 and she lives in Singapore," was Scott's response.

Maybe investors could offer Scott a share or two, as a thank you for all of his hard work over the years.

Media moves

Media mover and shaker, David Haslingden, has not stood still since stepping down as Nine Entertainment chairman last year.

Haslingden, who ran Rupert Murdoch's Fox Networks Group until 2012, has sold his media business Racat to Canadian media group, Blue Ant.

According to US entertainment industry bible, Variety, Haslingden will be getting cash plus a significant stake in the enlarged Blue Ant.

The assets he will vend into Blue Ant include local documentary maker, Northern Pictures, which he acquired 18 months ago.

"While the Racat businesses have achieved a lot in the last five years, there's no doubt those achievements will be dwarfed by what we get done in the next five as part of Blue Ant Media," said Haslingden in the official press release.

Sounds like a lot more fun than the mess he has walked into as a board member at Ardent Leisure - where corporate raider, Gary Weiss, is agitating for a brawl.

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