re: Ann: Notice of Extraordinary General Meet...
GC
Re. Williams options deal:
It ought to be obvious that at least the first 7.5 million tranche is not a "reward for performance"; rather it ought to be seen more as a capital raise or signing bonus. Seen this way, I have to agree that a very short time to expiry, even as little as a mobth, would be appropriate.
Still, the deal has been agreed by the board and our choice as shareholders is binary: yes or no.
The deal will raise the sum of $675,000 for the first tranche, at no cost to the company (but resulting in a small dilution for the shareholders).
On balance I see little reason to object, especially if the business acumen Williams brings can be effectively applied to advance the company's interests.
CZD Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
