Make that 12.1%. I just voted no too. I'm happy to reward the team members, but this is taking it too far. Organize funding through a third party, then on sell enough to cover you if you don't have the cash to exercise them yourself. Preferably accompany any selling with an explanation of why you need to do this.
Effectively they are asking you as a shareholder to give them a personal loan.
Also, if they sneak this through, I don't want it to become a commonplace practice amongst the small end of town.
A No voting block & an alternative loan facility, page-43
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