we lose due to mgt incentives n market?, page-12

Thanks RichE, for picking out those details from the ann meeting notice. Appendix 3B submitted to ASX on 20 June (which I read) does not have these conditionals. Hmmm.

These subclauses might provide an incentive for mgt to sell half or more of TXN's assets by the end of August. But maybe not, because of the curious trigger pricing.

The sub clause options price is the 20-day average beginning 21 days AFTER the sale. Presumably the share price would jump with public knowledge of the sale. And if shares jump to an average of 70 cents, this clause doesn't provide any advantage for mgt over the standard clause because mgt can't exercise those options unless the share price then rises another 50% above that post-sale price. And why would shares rise another 50% AFTER the market knows of the sale, unless there is a further sale or longer-term asset appreciation?

Please correct me if I am misreading this subclause.