Ann: Notice of General Meeting/Proxy Form, page-265

yep.

Will they pay up to convert? ... unlikely as they haven't paid a cent for any holdings to date. Only if they were due to expire ( in 3 years) and SP were over 10.5c I'd suggest

Can they sell them? ... no, they are unquoted, which means non-tradeable

it's a way of them having the right to buy today at 10.5c in 3 years time without coughing up a brass razoo.

I think we'd rather our directors show a bit of confidence and put some money into the company like we all do.

Scott tells us nothing and complains that we didn't support the SPP. Yet the bedwetting board of directors haven't bought a single share, despite having all of the insight into the data collected.

They wont convert, so the company coffers will never get topped up. But they know that their options will count in event of a takeover, and they have 3 years to make this happen