agm vote approval, page-41

I don't think the options are about representations of the confidence in the SP. They're given free, with an easy SP number to reach, so the soph's get an addition to our current SP, which obviously didn't give them enough capital gain.

Also, I often hear companies welcoming their new shareholders, and saying these are people interested in the company and wished to be on the shareholder register, etc (like they couldn't be before). I see that as the company marketing to current shareholders, to justify soph discounts. SI's can be anywhere in the world- just because they're in New York or wherever they are, doesn't mean they are American with an interest in PYC- it might mean that that they are leveraging or doing some kind of carry trade with Aussie dollars. In my short time as a person buying and selling shares- some 8.5 months- I've seen all manner of propaganda used by companies to justify anything. The language starts to have a very familiar ring to it. On any spike, these SI's will try to get out, as we've seen on the tiny spike we had the other day, and SI's are the same the world over. The options just add another element to their profit. I aimagine the SI's have brokers doing the work for them, and within a time frame to release the profit, and the faceless SI's have no clue about PYC- it's just another percentage for them, and they do several deals a year, investing 500k at a time, which is the SI minimum.

The above si what I perceive to be for all Aussie companies using SI's, by the way, not just PYC. When companies have "great pleasure at welcoming our new holders" or something or other, it's all been written and said before. It's just part of the capital raising game. The words sound pro-form every time I see them, probably from some broking firm's files.

Free options for bosses, free options for SI's, etc. Why not? And then we can imagine our democratic rights as shareholders with public companies. I reckon they're mostly all the same- overpaid and bloated. Wehter is be "performance rights", or whateve, it's all just them doing their jobs as a company anyway, and getting rewarded beyond a level that most would consider reasonable. There'll be loads more of these freebies, too. Can't wait. :)