Partially correct
@Cbrad
The "options granted" have a deemed monetary value (for taxation reporting?)
As these options are "unlisted" the cannot be sold on the "open market" so referencing GPPO as a smaller "gift" isn't relevant.
The "options" were granted at the EGM held on the 23rd January 2017, and issued to King on the 27th January 2017
http://www.asx.com.au/asxpdf/20170130/pdf/43flv15vh9cprw.pdf
The share price of GPP for the whole of January was in the range of .25 - .26 BUT when the EGM was announced and the supporting documentation for the issuing of these "so called" performance related pay options is not the case.
The EGM was announced on the 23rd December 2016, the share price at the time was 2.5c, so the issuing of options with a strike price of 2.2c, is a straight out "bonus" and doesn't tie them into any performance incentives at all.
This also doesn't take into consideration the time it takes to put together a document for an EGM, but the share price for the preceding month being November had the share price being hyped and it peaked at 4.4c, so they were probably expecting a larger windfall for their "bonus" options.......
In regards to money being placed into the coffers is correct,, but as this can also have some impact on the share price if a
Key Personnel Member decides to leave the ship (they aren't really supposed to are they?) as was the case when Bulesco resigned and placed his "converted options" and shares onto the open market.............
cheers
