I am thinking the cr will be at a minimum of 1.5c because of the vesting conditions for the management options issued during the AGM.
Vesting Conditions Subject to paragraph (n), each Option will vest upon satisfaction of both of the following conditions (Vesting Conditions): (For our chairman Tommy)
(i) The Company, with the assistance of the holder, having executed binding documentation for the acquisition of a substantial new energy project consistent with the Company’s strategy and on terms acceptable to the Board , on or before 31 August 2017; and
(ii) The Company, with the assistance of the holder, having raised not less than A$7,000,000 in new equity at a share price of not less than 1.5 cents per share, on or before 31 August 2017.
For Paul and Po its 3m together instead of 7m.
TNP Price at posting:
0.9¢ Sentiment: None Disclosure: Held
