TEI officers and directors will get 4,097,741 I3e shares optTEI officers and directors will almost more shares than the TEI shareholders for free at the closing of the TEI acquisition. They will received 4,097,741 I3e shares options and shareholders will received only 4,399,224 !!!!
Wake up TEI shareholders, officers and directors are not working for the shareholders. They are working for their wallet.
Shareholders have to be reward not officers and directors.
June 30, 2020, rom the other I3e press release :
Cancellation of Existing Director / Management Options and Issue of New Options
The Loan Note Instrument amendments include the requirement that the currently outstanding i3 management options will be cancelled and replacement options will be issued to i3 sta and directors which replicate the terms of the adjusted Loan Note warrants (the "New Options") in relation to the exercise price, to seek alignment between the Noteholders and management. A total of 16,157,612 New Options will be issued, of which 4,097,741 will be reserved for Toscana Energy Income Corporation ("TEIC") staff and an incoming director and will be conditional on the closing of the acquisition of TEIC.