He must have been aware of the options. Also, under the circumstances, a penalty clause is reasonable. If you bought shares with options attached, and didn't get them, where would that leave you. So it's only natural. The question is not over the options or penalty, the question is whether the placement of the shares and options was appropriate at the the time and were they at the right price.
With respect you are wrong.
The Real question is "Was the penalty clause part of the deal with Pattersons, and if so did all directors vote to accept it ?"
If they did not vote to accept it (Or did not know about it) , how is it that the penalty clause now appears.
Is there any documentation to support when this alleged penalty clause was made ?.
Some thing is not right about this penalty clause situation, I can feel it in my water, and it will require further investigation and clarification.
I dont think we have seen the end of this particualr question by a long way !!
CB
CTP Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
