Options were given to prior directors a few years back before Martin Donoghue and Geoffrey Kinghorn came in.
They had no choice but to let it expire. The vesting conditions were not met. These were part of the options they wanted to buy back last year.
Vesting condition varried but apparently it’s to have price above 4c to 20c (depending on the options) before they can exercise.
expiring before it can be exercised is a good thing because it’s just going to br cheap shares and may just be supply.
Ann: Notification of cessation of securities - G11, page-3
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