Ann: Appendix 3B - ESOP, page-76

Okay but the options at 26c are like a bonus- not guaranteed but if you work hard and contribute to the company in a way that adds value you benefit. If you have 5 mil options at 50c you wouldn't attract as much talent as you're reducing the reward and increasing the risk- regardless of where you may believe the price is heading, no rational person would rather the higher options at a higher price. The options are a way of attracting the talent without having to use more cash in remuneration and since AHZ is cash tight it makes more sense to do this and it reduces dilution that Comes with remuneration through shares and instant dumping.