options controversy, page-5

Wow, where did this thread come from? I thought something must've happened today. But the date on that notice is last October. So I decided to look a bit into it. A quick check of the AZX site showed:

"The options have an exercise price of 15 cents, and the number of options granted is calculated to equate to 20% of their remuneration or Directors' fees per year.? The number of options proposed to be granted represents a three year benefit and options under the EOP are therefore granted in three year cycles.? The Directors highlight to shareholders that the Board made the determination to issue these options at the June 2010 board meeting when the pricing for the share placement and rights issue had been determined at 12 cents"


So the options were priced in June 2010 (which is not long after I bought AZX actually). And at the same time that a rights issue was made TO ALL SHAREHOLDERS for 12c. Which I got more from. And if I remember right, I got a free option for every 3 shares as well.
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It also appears from above the director options are those awful rolling entitlement things that most Aussie staff and directors don't really like much. So it will be interesting to see if any of them actually see ANYTHING AT ALL from them given the state the company is in at the moment with TO offers etc. If anything I would have thought the AZX SH might think these a good thing because if the price stays up, the directors have both a vested interest in staying with the company to get them and in keeping the price up. The whole point of them I imagine. Maybe they don't suit an unfriendly suitor but I think they probably had a responsibility to look after their own shareholders before GGBs? No?
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Vicking2 are you just bitter because of this stupid TO or is there something we should know about that I have missed on this?? Because in June last year GGG directors also issued them selves options. Not sure if the GGG shareholders also got a well priced rights issue though?
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But again, where did this thread come from?
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