Ann: Business Update, page-9

In the past management have been issued with options which expire in 2017 at a strike price of $1.60.

What is management telling us if they propose that sharehoders should agree at the AGM to a proposal that new options should be issued at $1.25 with a strike date of 2018.

If that is is a reasonable hurdle and a fair price at which new options should be given to them then they owe us an explanation because just 2 weeks ago they issued a Business Update which said


The company continues to experience growth across all key metrics.
As at the end of September 2014, 1,134 schools were contracted compared with 1,021 a year earlier, an increase of 11%. Message volumes are currently tracking 16% up on last year and revenues are expected to be up 8-14% this year.