Ann: Notice of Annual General Meeting/Proxy Form/Letter, page-3

well i do own some DKM shares and dont quite understand why this cashless conversion should upset anyone

traditional method is like a mini CR at a discounted price - existing holders get diluted.

proposed method - no cash flows to the company/hardly any dilution since only the diff between the exercise price and the 5 day vwap get paid in shares to the holder of the options..

so IMO not too big a deal

of greater concern to me is the "mindless" annual allocation of new options regardless of achievement to anyone who happens to be a member of the board.

cheers