market reaction to total, page-71

Buddy,
1. re: exercise of the unlisted CTP 12c Options and your claim that Cottee indicated in the June meeting that he was going to IMMEDIATELY ask the holders to exercise those Options (at 12c)

==> Given that the CTP share price only exceeded 12c for 2 trading days in June (20 and 21 June), and in fact traded at below 10c for most of June, no one in their right mind was going to be so generous as to part with a 20% premium to acquire a share when they could get it 20% cheaper on market. (I also do not recall your 'IMMEDIATELY claim)

Now, roughly 6 weeks ago, the CTP share price saw a sustained rise above 12c ... so maybe (given that Cottee has been just a little bit occupied with the Santos and Total JVs) we will see some movement on this front going forward since there is no longer a financial penalty for the holders to effect the exercise of their options. (but beware, they may simply dump the resulting shares on market to realise their ~50% gain)

2. Buddy said "...Most importantly though, they found the money to pay themselves some very hefty cash bonuses. "

==> I cannot find any reference to the CTP Board or Executive paying themselves any hefty cash bonuses. Can you elaborate please ?