Ann: Capital Call with LDA, page-277

Hi Stan. Again thanks very much for your work on all the Broker Reports and trading of the various Shares & options by the BRN management (including louis). Your work is detailed and mostly correct from all information available to us currently.

On the issue of how did Louis fund his Options conversion there is another possibility that has not been mentioned.

Unknown to most is a Finance Option available for Directors of Australian Companies to exercise Options. It involves this Finance taking the Options issued and exercising them and selling them in the market with the difference from proceeds being paid to the holder (Louis). This is done for a small consideration (Fee).
Its possible this was also done though CEO's usually do the whole lot in one go and it gets dumped immediately over a short period (one day?). Could this be done in tranches over a long period? Unknown have not heard of it done like that but...........
This method means that CEO's etc do not need funds to exercise Options they hold.

Hope this helps Stan.

One other point on this, the boyz have pointed out how this needs explanation by the BoD about all these shares/options being sold off together and dropping the SP.
Correct, it was a major miscalculation or indifference by the BoD as they had prior knowledge of all future transactions by Management and should have executed this much better with consideration for the Shareholders who have supported them by buying into BRN.
Now to see if any more selling other than Capital raise funds by LDA ($4.2 Mil ?) happens over the rest of 2021.
They should remember that next AGM will have to be a "normal" AGM held in Sydney as lockdowns/restrictions will be over by then. Fun times!

Yak52