That question was asked at the Hove Town Hall meeting. As I understand it, Tony Bloom was already going to cover the stadium costs if the banks failed to lend, but asked Dick Knight to keep it quiet.
I think that offering 1p for each share to Dick Knight is little short of insulting. We've poked fun at Palace and Pompey offering 2p in the £ when in admin, but surely the mystery member of the board can do better than that.