Ann: Change of Director's Interest Notice, page-9

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    I don't know for sure, but if they're being held as security for NS to borrow against to fund his options, then I can't see how the lender would then short sell or allow them to be lent out to be short sold (if that makes sense?). That goes against why the shares are being held for security in the first place.

    Institutions that lend out shares for short sale, do so when the shares are unencumbered.


 
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