what price for sale ?, page-37

Marion was set up to develop the assets, then sell them. The directors were issued a swag of options, which was their way to wealth creation.

The Fortis loan extension would have been known to management before the announcement of the option expiry. (it was 5am in Europe when announced - even earlier in the US)
Had the Fortis loan extension been announced before the options expired it is quite likely the sp would have been closer to 30c. certainly the 25c options would be in the money.

By having the options expire when the sp was at or below the strike price, will give the directors a stronger case for the re issue of more.

The directors WILL want this missed opportunity recompensated, probably by the issue of more options.

Options are usually only ever issued out of the money, so the directors will want the sp to be as low as possible prior to announcing a special general meeting for the issue of more options. Note, they had to announce the Fortis deal because it was due in a weeks time. Very convenient timing, that "paperwork" certainly took a long time, but was miraculously completed at an opportune time!

Any one who has followed Marion knows the sp wanes on no news. So I can't see any more announcements until after the directors show their hand re the options or other form of compensation. If the sp is for example 23c, they'll probably ask for say 28c options. Once the process is put in motion it doesn't really matter if the sp goes above the 28c.

End of the day, us smaller shareholders will not get much of a say in it. Marion was set up from day one with large shareholders whose loyalties are to management. I have always said that I plan to make money out of this stock on the back of the directors. If they look after themselves, they'll be looking after me. The issue of more options will only put us back to where we were previously - no further dilution than what we had on the 30th. If you can't beat them - join them.

Darkcloud, flashash may have used a multi nic to get his point across, he obviously had strong views on the directors not exercising. As it turned out he was 100% correct. Pity he posted what people did not want to hear and trod on a few egos. We need posters who are close to management. I'm sick of being a mushroom! For sure never think what is posted on here is 100% correct, but very occasionally it is.

Speaking of informed posters, thanks for your posts Red2, I found them to be very informative. It's nice to have someone with your background onboard.