Ann: Continued Growth Drives Record H1, page-48

During October 2020 Australian Unemployment rate was 7%, it was the time when employees are lucky to have job and that is why many organisation had deal with employee to work at reduced rate and took jobkeeper allowance for those employee.

But at CNW the company took jobkeep allowance from the government as they didn't have enough work but at the same time instead of keeping people on reduced rate they decided to go ahead and distributed option at 1.7c which was half the price of market share price... ! So company who takes job keeper, have half year of loss (without jobkeeper) , didn't do any acquisition for growth and then instead of giving pay at market rate share price they decided to dilute shareholder and decided to approve 60m options over 9months with remaining 37m now due by June 2021.

company could have given jobkeeper only and retained the staff or given them option/shares as a wages at market rate or used the cash they have to pay for wages like what every company does or let go the people who can't work on market rate during Covid but instead gave them option at half the market rate and not just 1m or 2m shares but whooping 60m was approved and so far 15m i believe has been exercised and remaining 37m now expiring by June 2021, so who in their right mind will buy this shares at 3c when employees were given it for 1.7c without giving shareholder any value for their investment (i.e. no capital gain, no dividend, no acquisition which attract future earning in last six month) ... !

obviously those who got it for 1.7c are now enjoying on HotCopper and believe company made a good deal for them but for the owner of the business (i.e. shareholders) they diluted value of the shares... That is the reason market reacted the way it did on the day of results published... ! Now wait and see by end of this week or by next Friday (5th March) there is possibility of more options exercised at 1.7c based on their past record ... IMO... ! lol

This company is now close to 900m outstanding shares... and still has 37m option expiring by 30 June 2021 at 1.7c.... !

No wonder there are 2m shares available to purchase while 15m shares are queued for sale... lol

ALIMHO ... DYOR... .!