( rider - I suspect you're being deliberately mischievous )
ROV !
Real Option Valuation ie time available before a decision is needed......based on the value of a real asset into the future commercial worth of a business for that asset
so real option value v derivative contract option
'loyalty' in this respect of this current offer / entitlement by the company relates directly to the ROV of those ( plural.....) assets that will realise a commercial value once the developed and tested drugs + regulatory pathway approval have combined to produce a safe an efficacious asset that meets the S3 opportunity that remains open except for Epidiolex....and of course GAD and 42x etc etc
the exercise time frame of 25c in 2026 is a nod to this very fact - that is the business reality of this offer 'loyalty to those who have stayed the course and understand this opportunity - these assets realising their place on the shelf with a commercial value and a cure in the indication they are treating = $$$$$ this is in market terms known as a Real Value Option
it is very different from a derivative contract option (DCO) which is not what this offer is about. as I said before ....they don't need funding and it is not a loss aversion strategy ....and that is what a DCO usually is as we all know
that's how you know what the BOD is saying to you - its a clear indicator ....ROV plain and simple -
they have in their strategic planning factored in the fast approaching real asset value of the developing drug candidates measured by their development and progress into that regulatory framework they have exercised their experience and considerable knowledge / understanding of the financial value they are unlocking and offered an ROV - exceptional value for present shareholders and newbies who may wish to buy in before the 'offer date' can only suggest some will try to measure by the traditional dco methods and simply confuse this issue relevance / opportunity
see @thevinnys excel spreadsheet further up the thread - that is the ROV attached to this offer .....it is not a DCO the true meaning in this case of 'loyalty'
agree with @rhino78 - we will not be here in 2026....we will have been acquired well before then either in entirety or by specific indication /drug attribution which I suspect is the most likely of the 2 acquisition opportunites
