Ann: Appendix 3B unlisted options allotted , page-9

I agree...good on MAK for riding a one tenement Company to a market cap of $250m. However, whether he has been given a benefit is questionable as the options have been flagged as employee options.

As a shareholder though, don't you think that issuing options below market price is throwing money away? It's akin to handing over a cheque. You might be happy but are shareholders who have bought in at above $1 happy?

And tax could be a very significant issue, depending on conversion of timing and future share price...don't want to get into the mechanics however.

Good luck!