Ann: Options Prospectus, page-45

The joke is that holders come on here and complain that "mates" get the "freebies" when in reality this is tranche 2 of the placement which was announced on the 8th of September.




Now the kicker is that these tranche 2 options were up for shareholder approval, so if you didn't want "mates" to get "freebies" then you and all other small shareholders should have voted against it. Did you?

Let's have a look.....



It looks like only 1 holder voted against it. That poor sap, thinking he would be backed up by others who were outraged by the "freebies" to "mates". Only 272m votes for out of a possible 1b+ votes so it could have easily been outvoted.

But it wasn't.....and now we're here. So no use complaining.

If they get the options in the money then there will be dilution at higher prices but AEV will get cash and won't need another CR for some time. There's a few options from the last entitlement issues at 2.2c strike price and a fair few director options at 2c and 3c.

So there you go. .All it takes is about 5 minutes of reading time to understand what is happening.

Also to note is that the 210m tranche 1 placement shares at 1c from 8th September would be well and truly soaked now. The only thing that might hold this back next week is major indices tanking......or not. AEV is treading it's own path and the DSO scoping study is due soon. I personally am not taking the risk of not holding but that's my opinion and not financial advice.