Ann: Appendix 3B Exercise of Options-FGG.AX, page-5

Baffling isn't it.


I have some theories but they're all pretty bad.

1. You had a predetermined $ limit for FGG shares in doing the calculation on # of shares to purchase you assumed that you would exercise every single option, so "GODDAMNIT I is gonna exercise every single option!"

2. You knew yourself too well and that if you still had options remaining then you would exercise them tomorrow regardless of how much OTHER discounted stock you bought today, thus leaving you way overweight. SO...by exercising now, you preemptively insure against your instinctual behaviour.

3. Somehow(?) lower transaction costs make the difference between exercising and on market purchases negligible.

4. You don't get how the share market works....

5. You are aligned with the philanthropic thematic so don't mind paying a few % extra because 1% of your little bit extra will be going to charity anyway.

6. You have a $$ TONNE of shares and know that if you bought more on market you'd move the price up to $1.10 anyway and you don't have time to sit in front of the screen all day drip feeding in so it's just easier to exercise.

Clutching....