The options weren't actually exercised, in that they sold them back to the company $17 million worth give or take - these options they never purchased no doubt, but were granted as part of bonus earnings I suppose a while back. So they sold them to KGN and how was the $$value of these options determined at selling to KGN? I don't think there has been too much transparencty here, just b.s. about avoiding dilution of shares etc.. they have a way of pussyfooting around reality that never quite rings true. Regardless I don't think KGN is doomed but will bounce back ... that's a lot of cash gone from the reserves why wasn't that explained in the announcement
Ann: Kogan.com - April 2024 Business Update, page-51
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