The purpose of the Board selling their share to a Euro investor has 2 advantages -
(1) It gives the Board the funds to exercise their options (soon) and put money into the company's bank account
(2) It does not burn up the limits on placements - some of which will be needed to fund the plant
(3) It brings on board a cornerstone investor (which I expect is an end user)
(4) It would have looked bad if any Board members sold shares to exercise options.
There is a lot of logic behind what they have done.
VRX management structure, page-17
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