Speaking of dilution, it seems to me that the proposed options would probably result in 1,018,500 new shares being issued. I believe that currently there are 15,591,499 issued shares. Does that mean the shares that would be issued under the proposed options would be about 6.5% (!) of the entire company as it stands?
If I'm correct about that, such dilution worries me significantly. On the other hand, imagine what the share price would be if the directors bought on-market. But if the options are issued and converted for $24 down the track, I am concerned that would place a heavy hand on the share price at that point.
IMHO.
AVR Price at posting:
$20.25 Sentiment: Buy Disclosure: Held
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