Hi asf: My possibly flawed reading of the share option clauses...

Hi asf: My possibly flawed reading of the share option clauses (section 3.2) presented in the annual meeting is that selling 50% or more TXN assets before 1st September creates a greater hurdle for Foss to get the 6M shares (i.e. tranche 2) than if the assets are sold after Sept 1st.

Tranche 2 shares options are activated by a 50% or more asset sale before 1st Sept ONLY if the share price jumps 50% above the averaged price calculated AFTER the sale. The price would jump after the asset sale, but the clause demands a 50% price jump beyond the post sale share price. What would cause the share price to jump a second time? But if the sale is after 1st Sept, the share price needs to jump to $1.05 (50% above 70 cents).

The exception may be if there is a change in control of the company (section 3.2 (b) (iv)), which seems to offer Foss the easiest grab for the 6M shares offered in tranche 2 (activated if share price exceeds 70 cents, not $1.05).

Maybe there's a different interpretation of section 3.2, but I can't think of it.