So its agreed LOL, the Company has an Incentive Share Plan, that was approved by SH’s in 2020, the key terms were tabled at the time – which included the non-recourse basis involved in extending shares to participants and a lien to protect the company.
You don’t like the non-recourse nature of the SH approved incentive plan and without substantiation, believe that any holder of these incentive shares with a lien in place can simply sell them & then it’s a legal stoush to sort things out LOL
My understanding (which is limited, but at least I don’t make up stuff) is that Company’s can place a hold on listed securities, and this presents a way to manage these types of scenarios. As to whether any Director (specifically) warrants receipt of participating in the company’s incentive share plan that’s up to SH’s to decide, not the Board’s anyway.
IMHO the remainder of your negative spin was just that (which your entitled too)…and for the record, I consider the issuance of incentives that bring a monetary injection into the company, as being positive & assume these types of non-recourse employee share plans, aid incentivising employees/directors that don’t have the cash to pay out options (write a cheque as you say) but remain behind the ongoing efforts that build value for SH’s….well at least I hope so
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