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noairbags

3,370 Posts.

101

07/07/16

20:04

Post #: 18219860
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Originally posted by PhillW ↑

Hotazel,

My recollections from my own personal experiences are that the options are issued to key employees as a retention bonus and they are registered on the company books to that employee. When I received my free options I think those options expired worthless if you left the company before a specified date but the specified date was not the exercise date. The options are issued to a specific person to be exercised by a specified date and if they are not exercised then they expire worthless. When we were issued our options, anyone commencing employment within X amount of days of the issue missed out as you needed to be an employee for a certain period of time so I think it highly unlikely and highly illegal if FAR dished off these options to third parties. BUT, I do seem to recall reading on HC over the years where speculators would offer option holders X amount of dollars for their options for them to sign them over to them. Obviously the employment retention date would have needed to be served and the options vested into that persons name by the Share Registry Service and the person being approached either needed the money, had little confidence in them being in the money or did not have the funds to exercise their full entitlement. Another words, if an employee of FAR in 2015 was approached by such a speculator they would receive a payment to transfer their entitlements over to them and the speculator would take the risk of whether they were in the money or not.

Now after you posted about the 48M 4.4c options I looked at the 3B's and FAR are saying all options were exercised. Only 17M were exercised by Directors so the others would have been exercised by the key employees or the speculator they offloaded the options to and you are right in your thinking that some maybe lots were sold up to and after 30 June which would have split the CGT fee over two financial years. Then again, those not needing the money would hold until May 28th 2018 to get the 50% CGT benefit. So what we can gleen from the 3B is that the directors who exercised their 17M options, still hold those shares as no change of directors notice has been issued and potentially 31M shares or part there of could have found their way in to the market.

The one director who received 12M options made a snappy $600K as soon as he handed over the cheque to the share registry. Now that's a house in 6 of the 8 Aussie states and territories.

Expand

Luckily that director was able to PROFIT from his (cheap) options.

I'd just like to PROFIT from the shares I have purchased 100% of?

FAR Price at posting: 7.7¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 50.0¢		Change 0.005(1.01%)		Mkt cap ! $46.20M

Open	High	Low	Value	Volume
50.0¢	50.0¢	50.0¢	$25K	50K

Buyers (Bids)

No.	Vol.	Price($)
3	67623	49.5¢

Sellers (Offers)

Price($)	Vol.	No.
50.5¢	669	3

View Market Depth

No.	Vol.	Price($)
3	67623	0.495
1	30000	0.490
2	32000	0.485
3	83930	0.480
2	70000	0.475

Price($)	Vol.	No.
0.505	669	3
0.510	129688	3
0.515	2239	1
0.520	30000	1
0.525	30000	1

Last trade - 10.15am 18/07/2024 (20 minute delay)

FAR (ASX) Chart

Nice Volume Today, page-63

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Andean discovers up to 4,649 AgEq through maiden drilling in Chile

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Featured News

Buyers (Bids)

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Nice Volume Today, page-63

Top Stories

AI stocks: What to expect in 2024-25

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