Ok I have had to take a Bex and a Lie Down after reading this announcement.
What a way to DISINCENTIVISE staff - issue options that need a share price increase of 300% to just reach the exercise price. Talk about failing before you even begun!! This September announcement better be a cracking one!! Oh wait HUB and NWL have already announced cracking results - heres hoping.
And a CEO who gets (see page 2 of the announcement) an additional 2,000,000 options and get this - "CEO Options are not subject to achievement of KPIs" - seriously cue the Twilight Zone music.
I suppose a company with a 6.5c share price can throw the options around when the exercise price is 18c or 25c or 30c - What's a million here or 5 million there when there is not a chance in hell they will be exercised in anyone's lifetime.
Let's really incentivise(?) the CEO - Picture this - "Mike the Board has decided that you should get 23,456,987,875,985,456 Options with a strike price of $8.35. Ok the share price is currently 6.5c but with lots of hard work you MAY JUST get there!!"
XPL Price at posting:
6.5¢ Sentiment: None Disclosure: Not Held
