The options were offered at the time, the SP was under 3 cents.
So they would be paying premium prices if they had exercised them at the time.
The objective was for them to improve the SP, which they did, thus allowing them to exercise their options when its in-the-money.
That is how these incentive options are designed as; to get Mgt to improve the value of the company.
Ann: Change of Director's Interest Notice - LC, page-27
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