Ann: Appendix 3Y - Change of Director's Interest Notices, page-25

Some silly comments on here today. What the directors did was totally understandable - the original issue of the options followed standard practice where the strike price of the options is derived from the share price at time of option issue eg. option strike price 1.5x market share price at time of issue. This gives the directors incentive to increase the share price i.e. they want the share price to rise so that the options become 'in the money.'

In CNB's case, the explosive share price gains have meant that the options are well and truly 'in the money.' If I was a director I would have done exactly what they have done i.e. converted the options into shares and sold some of the shares (I would probably have sold more of the newly converted shares than the 2 directors did, they each only sold 1 million of the new shares out of 3 million new shares each).

To suggest that this is in any way poor form or dodgy etc is plain dumb - the whole point of the options is to provide directors a financial incentive!

GLTA & DYOR