debblair, and for the record, I made an error with the options above
the new options run for 3yrs (Dec 2011 to Dec 2014) not 4yrs so it makes the price 29% volatility, still a good deal
but it's interesting... Bundok (Matt Wood & Co) took 50m as payment (and 50m stock)
I just had a look at another company who did an options deal skewed towards current shareholders, and to offer a good deal to incoming directors.
they had 2 options for every 3 shares, 20c stock, 20c strike, 2.8yrs out, for 1c premium. that's less than 1% volatility cost. very accommodating for shareholders (and new directors)
considering the weight of Matt Wood & Co on the registry I surprised the price is 2c, and not cheaper
masapelid update, page-57
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