Proposed OptionsShareholders should read the circular issued prior to the AGM on May 11. The Board is recommending that the number of options that can be issued to company officers be increased by 50%. From about 4 million to about 6 million. The present 4 million options have an average strike price of $4.72. All but 200,000 have been issued.
So it appears that "they" are not happy with a strike price that is probably lower than a lot of long suffering "ordinary" shareholders paid for their shares. They now want another 2 million at a strike price which will reflect the closing market price the day following the AGM. As we are 18 days from that date and the PPS is continuing it's downward spiral on low volume in the absence of any "substantial" news, one could speculate that the price of the options will be less that $3.
Correct me if I'm wrong, but is it not the function of management, among other things, to enhance ALL shareholders value in the company, not just their own. Or am I being naive! Ha,ha.