I can still hardly believe the directors are asking for a set percentage of the company to be handed to them in free options and not instead a fixed dollar value 'performance' bonus.
I believe the hybrid frac will likely occur just after the directors get their free options (putting them immediately in the money).
I too am hoping the Ellenburger plays out, but with the free option deal on the table it's actually not in the directors best financial interests for this first stage to be successful - weird as that sounds.
I realise i am not a top 20 holder so alone my AGM votes will not affect the outcome, but fwiw i'll be voting against the options issue as well as the re-election of the current directors.
CEL Price at posting:
9.0¢ Sentiment: None Disclosure: Held
