The current options voting doesn't relate to the stuff up from last year (ie 100,000,000). Resolutions 1-3 relate to 3,000,000 directors options. The directors who are about to receive these options "consider that the incentive represented by the grant of these Options is a cost effective means of rewarding and incentivising Directors, when compared to alternative forms of incentive such as the payment of additional cash compensation".
Here's a suggestion guys (directors).... how about you give yourselves a cash compensation IF the company does well and achieves a certain share price objective. That way you won't be diluting the company any further than you already have done.
Unless of course you don't give a damn and can't be stopped anyway.
(sigh!!)
Resolution 4 relates to 3,150,000 further 'handshake' options to consultants.
more dilution.
so we're up to 106,150,000 since August 2006. When these get converted to shares, of course the 15% rule will now allow an even greater number of options to be issued without shareholder approval. So the snowball gets bigger and bigger.
Am I missing any options?
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