Ann: Appendix 3B, page-2

These employee incentives are an ASX-wide concept.
What I do not understand is why they are issued today, for optional redemption to employees ate a later date, but at todays market price.

If they are only able to be redeemed in say 2020, then they should only be allowed to be redeemed at a price reflective of the published projected growth to that time - if the ASX listed company does not provide expected company growth (not market share price, which is harder to predict - these are not necessarily conjoined) then it should be against ASX rules and in the interests of shareholders who have paid on the open market for shares for these options to be offered.

I realise company insiders will rile against me for providing this opinion on the ASX as a whole (not PLS directly) but it needs to be said, millions of incentive shares issued diluting paid shareholder values well into the future outweigh the negatives of issuing other incentives (such as market leading salaries, in which employees can choose if they wish to invest into a business they are seeing grow).

Not as bad as BOD options, but shareholder dilution is a poison naking many ASX companies unattractive.