You say that the conditions (of Rights Vesting) "align with the interests of shareholders".
I disagree.
The strike price of 15 cents per share (Class D) is way too low, since:
(a) many shareholders would have bought in at over 25 cents (Remember, a placement was made a year or so ago at 24 cents).
(b) 50% of the vesting is weighted towards Class D, rather than towards the much more beneficial (to shareholders) Class C which is allocated only 16.6%.
(c) If, and when, Class C is achieved, the share price will rocket upwards, probably to around one dollar. That is where the focus should be.
In this sense, the scheme stinks.
Ann: Change of Director's Interest Notice x 4, page-15
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