partly paid shares, page-68

acecant,

I think the main thrust of your argument is that the auditor should be rotated every three years in case things get too cosy.

I don't remember any director filings for exercise and sale of these shares.

The thing that stands out to me from the willcox tables of partly paid shares is that most of them are underwater at the moment.

There are many different kinds of incentive schemes and this one is not particularly leveraged.

Keep a sense of perspective ; the directors are acting exactly as you would in this situation.

I ask you to bear in mind that the directors are taking considerable risk by not taking out director's liability insurance.

Have you figured out how much that would cost ?