looking forward, page-17

I really really do feel for the option holders as we are only 6-7 weeks away from expiry, and while there is a legitimate argument to align these options with those of management, i think people need to recognise what options are....

People bought the options because they saw the possibility of a greater return for a given scenario than buying the ordinary shares.

With that increased return comes increased risk!!

That risk is in the form of time decay and the realistic chance of losing your option premium.

Clyde im not having a go at you or any other option holder here in any way, but I think it would be imprudent to think that option holders have the chance to participate in all the upside but also expecting to be protected for the downside by having the company roll them over for another period of time.

Yes the trial has been delayed, but that is the risk when you purchase an instrument that has a exercise date.

Option holders by their definition, not just EMS option holders but all option holders, cant have their cake and eat it too.

What the company did rolling the last options over is IMO the exception rather than the norm.

I dont hold any options (have been burnt too many times in the past by getting the call on the company correct but getting the timing wrong) and I really truly hope they are in the money come the end of the year.