My understanding is based from when I first was involved in setting up the Supporters Trust, quite a few years ago now!! Our aim at the time was to get a voice on the board and to do this we would need to buy shares in the club to give us that voice. Anyway TG had clearly stated earlier that if any investors came in willing to take the club forward he would sell his stake for £1. We asked him at the time if he would sell us his shares for the same price. He was willing but only if we raised enough cash to pump into the club. Sadly back in those days Stephen Pearson was really against any involvement from a group set up by supporters and didnt support our setting up of the trust.
Anyway once he took the club down the community route it actually made all shares null and void as it then became a not for profit organisation and overnight The Supporters Trust's aim changed.
When Mr Posner made the club into a Ltd business again this was when the new company set up and shares were issued I believe.
Mr Gartland basically never got a penny but agreed to forgo his shares in discussion with Stephen Pearson as he theoretically could have vetoed the community club route as the major shareholder at the time. He didnt though so he therefore knew he was giving his shares away at this point. He wasn't bothered though either way as long as the club survived.