Crikey, three late night posts in 20 minutes all directed at me...

Crikey, three late night posts in 20 minutes all directed at me and more or less saying the same thing...

I understand that as a NOROA holder, especially one who most probably had to shell out for them, you would be keen to see these new options issued to your select group. My point is that if the Company does so it discriminates and disadvantages all the non-NOROA shareholders. They would be effectively creating a separate class of shareholders.

The dilution/depreciation occurs if these options are issued and then exercised. It's irrelevant to the argument that the SP will need to be above 8c for this to occur because for it to get there an awful lot of current shareholders will have to sell and an awful lot of new shareholders will have to join the ranks. Whoever is left holding the parcel will take the hit.

For the record I don't think the share price will get high enough for the proposed options to be in the money but I do think that the recipients of these proposed options will take every opportunity to sell them for whatever they can get well before they expire. In my opinion you would be stupid to do otherwise. Why then should one group of shareholders/non-shareholders be given the opportunity to profit when the vast majority of shareholders are not?