IMO they have been quite sneaky here.Resolution 8 concerns the...

IMO they have been quite sneaky here.

Resolution 8 concerns the issue of 73.8m attaching options. These are the options the sophs will receive.
However there are 87.5m total options to be issued, the difference is the approx 13.7m options being granted to insiders - management, directors & past chairman.

These options are voted on under resolutions 2-6 and are lumped in with the shares - you can't vote for the shares and say no to these options!
So even if Resolution 8 is voted down, the insiders will still get their options unless you vote down them receiving the shares (thus funds for the company).

So it is quite likely IMO the Directors etc will get the options however the sophs could miss out if Resolution 8 is voted down.
I'll certainly be voting No to resolution 8, not sure about Resolutions 2-6 at this stage. On the one hand I don't think these insiders deserve the options, on the other hand the company needs the funds they have subscribed to.