AML $1.00/share, page-17

Ok Speccy, have been investigating for my own benefit the Directors remuneration and OCP number of shares.

Remuneration. Page 25 Annual Report 2018.
Hamish Collins. M.D.
Salary increased from $350,000 (2017/18) to $400,00 (2018/19) Received a bonus from 2017/18 of $65,000.
Total short term 2017/18 $415.00

Long Term. Leave Entitlements $21,196.
Super $25,000
Sub Total $46,196

Now Total without Options and rights, = $461,196 ( Hamish Collins)

Options and Rights or in this case WARRANTS. The $220,250 is not REMUNERATION.

11/August/2017 Incentive shares. Each Director was ISSUED with 2.5 million Warrants as Limited Recourse loan at nil interest. The Exercise price of each Warrant is 0.145cents with a three year limit to 18/ august/2020. When exercised each director will have to pay$362,500.
The $220,250 mentioned is an figure arrived at by an accounting formula to provide a value for expenses in Accounts 2017/18. This figure is $220,250.

They are only allowed to start converting these warrants when the SP is 25% above the exercise price.



OCP. AML has a loan with OCP for $27.680,000.

OCP Haven't added up how all the shares were acquired but Warrants have been heavily involved. They were issued 2014 Warrants of 63,251,107 with exercise price of 15.79c. Did not exercise.
2015 73,000,000 warrants at 9.35cents. Exercised 6/dec/2017 for $6,825.500.

Now Loan comes due and AML get a two year extension to December 2019. Price for this, issue of 85,000,000 Warrants with exercise price of 16cents.

Because OCP has busted through the 20% Takeover limit with all these Warrants they get a Shareholder Approval ( section 611(7) Corporation act ) to allow them to go above when exercising their Warrants.
I suppose they are also buying on market with the 3% creep every 6 months.

OCP has approx 32% of AML
Directors Approx 5.5% AML

RAB