Not sure I'm reading this the same way you guys are.
What I'm interpreting is essentially the directors/officers took an extension on the option fee at a 3% interest rate that is calculated monthly.
Seems pretty good to me. They can't sell the shares as the company still own them, good to see they're not getting any cash bonuses to pay for any of them too. This means until they personally pay for them, the conversion fee is increasing the longer the loan continues thus more money for the company. If they don't front up the cash and the loan expires the company can sell them, in this scenario my hope would be to have the shares written off.
I'm just not seeing the negative here, happy to be corrected
Ann: Half Year Accounts, page-115
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