See below company's announcement abstract and just read second paragraph which clearly says options are given free and there is no "Cash in Bank"... IMO ... but let's forget out this topic... !
Also regarding your notice issued on 22 April 2020, if you read that announcement it then refers you to announcement made in 2018 by the company when company got approval to grant option (way before COVID... so i am only guessing that company is best astrologer to forecast covid and make arrangement that they could use in 2020)... This company has been talking about DESPO in almost all AGM so it is not COVID that they used it.... if it wasn't Covid then they would have used for something else..IMO... ! Also I don't have many stock in IT service industry but which other company granted 60m million option below market price during covid to hold off staff or was it only required for CNW?
I made a point before, CNW don't employ nuclear scientist or biologist who holds the key to cancer / Alzheimer / Covid treatment that you can not hire again... !!! During covid employees made a deal with their employer just to stay on payroll on part-time basis as it isn't the perfect time for one to find new job when "dead people piling up in the streets of New York" ... unless you are in healthcare field or facebook CEO.... IMO... !!
Company is doing business either do it for the benefit of the shareholders and grow the company or run private company where you can issue millions of shares or option at your own will to whoever you choose and pay people double wages during covid if that suits you ... !
Options are not the reason for significantly poor share price performance of the company over last 5 years, however with millions of option on the book do fence of some of the insto who looks for investment.... IMO... unless you are insider or naive investor it will be hard to ignore 96m outstanding options with strike price close or below share price... ( yes i was naive as i didn't read it before investing)... !
This management got 5 years with millions of option up their sleeve but still company stand without any capital growth in share price or dividend or any benefit to shareholders... and hence the person who takes the responsibility in corporate world is CEO or the board as market react to good performance and DTL is a good example of the performance IMO.
Did I read today's change in substantial notice correctly where Wilson sold off few million shares?
