I don't understand the problem of giving options as incentives to new talent... if they want to convert they still need to pay 26c a share and they would only do this if the share price would be much higher than the op, it means the employees can't just get free shares and sell asap giving no thought to the other share holders. They're giving them
The option to buy in at current prices so that they can enjoy their hard work later on if it's worth it
Ann: Appendix 3B - ESOP, page-69
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