79c is the exercise price in 2020. So in reality if they sell the shares the essentially have options with an exercise price of 79c. Whatever way it is explained the board has gifted these shares with some apparent expectation that sabby would spruke the company and shafted the underlying value of the company and frazers work.
I for one have no idea why they think this was a good move. No one is denying that at this stage we need cash, but there are better ways to go about it.
Dirty Deeds Done Dirt Cheap!, page-171
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