page 16 of the notice states that the proposed options to Mr Stirbinski are issued on a pre-consolidation basis, so the 2 million shares @ 10c will become 0.25 million @ 80c.
He seems to be earning his $424,200pa salary, wiping out ~50% of the company value since joining takes a skillful highly trained person.
Still would like to know who decided that they apparently change the price from 8c to 7c for 'sophisticated investors'. kicked the share price in the balls(8.6c to 7c, great friggin management)
Maybe the consolidation is so that they can raise more cash at a share higher price due to the inept handling of the last capital raising, wouldnt put it past the current dodgy management.
Wish Steve was still in charge, he seemed to have an idea of how to run this ship...
Ann: Notice of General Meeting/Proxy Form , page-3
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