run out of buyers, page-17

Hi Osr,

Did a bit more reading on those oppies. Man they are dodgy as! The selloff in share price seems to reek of convenience to assure a lower exercise price for the oppies. Key terms:

The exercise price for the options is calculated as being a 25% premium to the volume weighted average of the
ordinary shares traded on the Australian Securities Exchange for the 15 business days preceding the grant date.

The options will be granted at a date to be determined by the Chairman and, in any event, no more than 3 years after the Annual General Meeting.

Why on earth does the chairman get to choose when the oppies are granted?