That no CYP director should receive any shares or cash in any takeover where the options would have otherwise enabled them to benefit from a price unless the share price is greater than the share price at the time they became a director.
Currently, I believe, the plan to give options to directors at a 45 percent premium to current or at the time of approval would see directors getting options with strike prices at about 12 to 13 cents plus 45% - which would be effectively incentivising the same dill that dragged the share price down here with a misguided cash raise.
The point of incentives is to keep good people that can perform around - it should not to be to encourage non performers to keep hanging around regardless and irrespective of their past poor performance.
CYP Price at posting:
12.0¢ Sentiment: None Disclosure: Held
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