"But the exercise of the options was a cashless transaction, the company didn’t lend the directors any cash to exercise the options at 1.1 c."
It doesn't matter which way you look at it Dan, there is $1 million less in the Company bank that is ultimately costing shareholders the interest that would have been accrued over the past two years - and now for another two years!
The quick payment by our Executive General Manager shows to me why he needs to be inserted into the MD position and DP is ejected as soon as possible. On face value he appears to have a lot more integrity and is more in line with shareholder interests than any of the Board.
Our current Board are just a bunch of self-serving sponges.
Ann: Notification regarding unquoted securities - BRK, page-40
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