Ann: Exercise of Options and Appendix 2A, page-6

Too true. I could forgive it if performance options were made available to a director or other employees based on shareprice targets if they didn't already own a substantial share of a company, but if they do, surely the appreciation in value of their existing holdings should give sufficient motivation and reward in addition to their already exorbitant salaries and fees. If I was a director however, and was in a position to award myself something extra for nothing, who knows what I'd do, never been tested in that position.