i got to say I find it hard to keep up with the logic sometimes....

i got to say I find it hard to keep up with the logic sometimes.

Shareholders also oversubscribed to the SPP and then voted it up at the meeting so you could argue they agreed to the dilution too... they needed to raise capital at end of last year.

so I think you are suggesting that they get a trim for the EXTRA dilution because the cap raise wasn't completed at 6.5c, but at 3.6c resulting in more shares being issued.

im humouring the idea, because it's clear that doing the analysis isn't really part of the mobs approach, but follow the maths to see where it ends up:

1780101337 shares on issue before cap raise
456m shares and options issued at 3.6c
total after all that would be 223654779
20.4% dilution.

if they cap raise at 6.5c then they need 3.6c/6.5c or 45% of 456m.it makes it 12.4% dilution.

So whether you cut the bonus amount or increase the tiers by 12.4% - it really is negligible.

wouldn't be with the fuss in my opinion.