Hi Guys.. Options for insiders at close to market price when issued are not acceptable in my opinion and I always vote No. "Unless the MD drives the price North" to where it is now doesn't seem like much of a benchmark just sayin. All that aside the main problem we have is overhang where if we disregard the less than 400 shareholders with more than 100k shares we have around 4000 shareholders with less than 100k shares holding some 175,000,000 shares in total trapped between 10 cents and 120 cents and a large number of these guys have two things in common 1 they didn't use a stop loss 2 they rightly so want most of their money back. As you can see by the attached graph the trapped holders out to the left of the bottom green line dumped as soon as the price got near their cost which is to be expected in fact some would have taken their stop loss 7 years late by dumping just before price got to their cost and just after they realised they were too slow pressing the button. We can expect more of the same until 120 cents is taken out which I do expect to happen over time however it doesn't help when insiders get to buy large numbers of shares only if they are safely in the money and of course their inside position means they are never exposed to the same risk as ourselves. I absolutely hate terms like "these free/cheap/at the money options/shares are to align management interests with that of shareholders" as I consider that's their job which shouldn't need any aligning.
You should check the above numbers for accuracy as they are from my memory of reading the company reports some time ago and may not be exact.
ABU Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
(20min delay)