So this time they exercised 5m option in one go, so total in the month of March they exercised total 8.396 million shares at 1.7c .... ! This company will get best employee satisfaction award from Guinness book of world record for "Granting" millions of option at half the market price in a year where company had six month negative cash-flow (if not for the government handout)... and share price stalling at 3c for ages... IMHO.
Now our company has 906million outstanding shares and another 28.7 million shares available to exercised before June 2021 at 1.7c... !!!!
There is no growth milestone or target given to shareholders by the company in any of the presentation as to what revenue they want to achieve but remuneration report clearly says how many options they are granting (dilute share value).... IMHO... so benefit without committing to goal... IMHO.... No wonder 15.4% voted against remuneration report in last AGM... !
Can not wait to vote in next AGM to reject remuneration report and appointment of any of existing directors or chairman whoever is up for election... !
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Ann: App 2A - Application for Quotation on Exercise of Options, page-2
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