Ok I’ll bite. Directors do not hold “jack all shares in the...

Ok I’ll bite. Directors do not hold “jack all shares in the company”. Just because they don’t have scrip doesnt mean they dont hold exposure.

Parker 900k options
Repacholi 600k options
Perry 600k options
Norregaard 3.9m options
Scott 1.5m options

While most have already vested, by 22/3/24 all of these options will have vested. Exercise prices at 20c/30c/40c.

Take the lowest holder Perry as eg. if WIN hits 50c prior to expiry date (22/9/24) he converts. Pays $180k to exercise, value at 50c would be $300k.

Norregaard and Scott have also received another combined 1.06m rights at nil cost valued at $375k outside of this.

If I was a Director I wouldn’t be buying shares on-market. Why would I with no-risk options aplenty.