5b analysis, page-72

Roh its probably best to refer to the loan arrangements specific to CDU using information provided by the company - What I would like to know and dont understand is why the first 800000 were new stock issued but the company has chosen to then spend $10m buying the rest on market - they may well have bought even more in July ? The 800k issued to directors are on the books at a loan value of $3.78 well out of the money at present. Surely preserving the cash and issuing new stock as they are allowed to do ( see below ) would have made more sense - A buyback benefits all shareholders equally the staff loan stock arrangement only benefits the recipients as opposed to the old option system that incentivises the recipients to grow the share price to the equal benefit of all shareholders


Apologies to Hot rock JPG shots again - Jadel idont know how to drive google screenshot tools