This is not good.With the head shares at around $1.03, why would...

This is not good.

With the head shares at around $1.03, why would anyone exercise for example 250,000 options at $250,000 for the dubious benefit of a potential 3% gain after the 2 weeks it takes to process it.

There will most likely be a bit of selling pressure shortly after the expiry date as well, with so many new shares on the market.

LRF really needs a bit more margin on the share price for this to be successful.

Perhaps they are a bit too greedy on picking up shares cheaply in the buy-back?