Out-there, I think you missed an important aspect of these options. They are not free options! "the exercise price of the options to be offered (to the CEO) will be calculated at 15% premium to the 10 trading day volume-weighted average price....immediately prior to the achievement of the applicable KPI (hurdle, in your parlance)". In my view the options and the exercise price are not overgenerous, in fact compared to other bio companies in which I have shares you could almost call them stingy.
I too have been in Tissue Therapies from the very earliest days and have been through all the trials and tribulations. While not happy with the way things have gone over the past two years, Steve Mercer will have well and truely earned his options when they come. "When" we hit the hurdle of CE Mark it will be like landing on our a in a tub of butter, happy days for all of us; including Steve.
TIS Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
