The terms of the PROP were clearly disclosed:
"The Exercise Price will be based on the 5 day VWAP of MBE shares on the Grant Date plus a premium of 30%."
The options had to be issued by 31/12/14
The 19c X-price is just a function of the low share price over the last month
Ann: Change of Director's Interest Notice - Drew Kelton, page-13
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