Ann: Grant of Options to Senior Managers and Dire, page-2

re: Ann: Grant of Options to Senior Managers ... I like the use of out-of-the-money options as remuneration for these new management members, It will cost Vorster a fortune to convert all his options into stock but if he can get the share price up to the mythical $4-$5 range he stands to make a fortune.

I'd like to see a similar set-up for the incoming managers and I'm sure this will be the case.

I'm not sure why we are throwing more options at Mal Randall but I guess that's what it costs to keep his expertise on the board... Still waiting to see what they throw at Dickie Court as our new Chairman. At this stage I'd say both these guys are worth the cost.

It does make me wonder about the share price manipulation though... These have (mostly) been awarded at 1.43 x the 5 day VWAP which at the moment offers much better value to the team than if the share price was $2.40. Note this is subject to shareholder approval and the amount could change if the share price increases prior to approval.