What must be remembered is that the options were agreed in December 2019 when the SP was 16 cents and the exercise price was set at 25 cents.
The shares couldn’t be exercised until December 2020 so the options were originally issued at a higher price than the SP trading at the time.
If 2 million options are exercised that brings in an additional $500,000 of cash for the company.
Staff are paid below market rate and the option scheme is to reward loyalty and as an incentive to ensure staff work hard to drive the SP up - this was discussed last year during the investor presentation.
If the exercise price is set too high then it defeats the purpose as staff couldn’t afford to exercise and the options would expire.
A little bit of common sense needs to be applied here...theses comments are out of line.
ZNO Price at posting:
70.0¢ Sentiment: Buy Disclosure: Held
