Well I guess we will just have to wait for the 4C in 6 weeks. However under ASX continuous disclosure a 20% pay cut of just management and the board for 6 months would NOT meet the materiality threshold. CEO and 3 directors inc chairman would only be $40k for the 6 months... There is NO way a board would announce something that only leading to A $40k saving for the company! For the benefit of the shareholders which is both of us I hope my view of the release and the saving is much closer!
gifted options? I don’t understand... it clearly states that the options have a strike price of 2 cents so the employees that we’re given them under the EXISTING employee share option program or ESOP... another reason why I think all employees took a pay cut. Either way the people awarded them have to pay 2 cents for the shares which is approx 70% out of the money today and 100% out of the money when issued.
also given directors own about 40% of the company with one buying more than a million recently don’t you take that as a good positive sign? I always like when directors buy! Also given the NED salary for a micro cap is about $40k they are clearly not in this for salary it’s capital growth. Which can only benefit us all.
love to know your thoughts on why you are still holding?
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