They will need to do better to incentivise people to take up the...

They will need to do better to incentivise people to take up the offer. I hear they are incentivising the upgrade of Bacchus Marsh, makes one wonder what happened to all the dollars that were smashed when the company had some money. Also makes one wonder about this announcement. It's also mentioned in an annual report possibly two (it's Groundhog Day!). 

https://www.asx.com.au/asxpdf/20170623/pdf/43k4wbh9zywf5k.pdf



At 17% discount the average break even price even for the best level is higher than the current SP. Something that is interesting though is if you bought options at a relatively high price you would be better off than those who bought lower as the conversion and loan amount would have been less (because you get less when you exercise the options). What some people would have considered a poor buy at the time would have turned out better than those who waited for the lower prices expecting some performance out of this company. As we have seen though the performance is lacking.