To clarify, the strike price was well before the 2016 AGM. JP's...

To clarify, the strike price was well before the 2016 AGM.

JP's 7.5c options were issued as part of his package on 1st Jan 2016, share price at 5.3c, and were ratified at the AGM November that year.

https://www.asx.com.au/asxpdf/20160104/pdf/43462qh51b3wd4.pdf

PB's options were issued as part of his package on 1st July, share price at 10c, but also ratified at the November AGM.

https://www.asx.com.au/asxpdf/20160629/pdf/4386b44vymhcjy.pdf

You will also see that both directors put up their own money in the last raising at 12c and would also have 17c options.  Looking at the salaries, especially after tax, they have chipped in a fair chunk IMHO in the raising and options, and haven't sold a share.  Isn't this how it's supposed to work - our directors are incentivised to get the share price up?