ESOP - getting set prior to the re-rate

Interesting to see that OLV board is looking after key employees ahead of the curve here - well done !

This is the biggest single issue as a % of the headroom available under the ESOP since IPO.  I assume that the ESOP is capped at 10.0% of TSOI.

The exercise price is some 50% above the current OLV market price so no-one can disparage this as a free gift - good work to reward your employees ahead of the re-rate.  The options vest over a sensible period (1-4 years) so it aligns interests with all stakeholders here.

Given last quarters release mid January IMO I expect to 4C business update to be imminent and IMO I think it will be good.

	Column 1	Column 2	Column 3	Column 4	Column 5
0	OLV issues under ESOP 2016-2018
1
2	Date of Issue	Number issued	Exercise Price	% of ESOP post issue	ESOP issued as % of TSOI
3	Apr-18	5,250,000	$    0.095	86.5%	8.7%
4	Nov-17	1,200,000	$    0.040	63.2%	6.3%
5	Sep-17	2,200,000	$    0.036	57.8%	5.8%
6	May-17	1,525,000	$    0.036	48.0%	4.8%
7	Jul-16	600,000	$    0.085	41.2%	4.1%