The buyback date is set at 26/11/24 so unless the SP appreciates hugely by then there are no options that are in the money to enable cashless conversion - right?
Perhaps the company pays the B-Scholes value for all the outstanding out of the money options and therefore "buys these back"? They will be cheap as chips being so far out of the money - then re-issues these as employee incentive options at a much lower price - 5c? Lower?
I'm grasping at straws here.
I can't see the positive for SH'ers, can you? Not normal.
@IndexInvestor
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