Ann: CEO and Managing Director increases shareholding in Imugene, page-100

I am more cynical than what most here are!

I think this IMUOA letter is all about encouraging holders to exercise sooner rather than later, the markets could crash at anytime and I believe they will. If any crash happens before Nov expiry, $6.2m working capital could be lost.

As for LC's options conversion. She gets paid $350k (plus plus) total value up to $777k pa. Considering this includes cheap options you may as well say $1m pa, so investing $405k in soon to expire low priced options is a no brainer. The true intentions of what LC is up too can only be know if we knew how she funded this purchase, my guess would the use of cheap finance (posable margin loan) that will be repaid with the sale of 7~10m heads in the near future.

I have lightened up big time, sold all my options and only hold 15% of heads that I once held.