Ann: Director Participation and Placement Authority, page-38

I really dont think it matters Hera and the proof is in the pudding

I was disappointed when SRT placed at 1.2c with free options because those options were in the money and made the effective placement price under 0.8c

I was even more dissapointed with the prior SRT placement at 0.8c with some free options


Whatever my feelings were SRT has gone on to multi multi bag from those levels for the placement takers and now has an EV pushing $30m+

WPI equivalent would still be closer to 10c so am happy to sit and wait for the eventual rerate that should come