Ann: Sun Hung Kai and Lympo invest in Animoca Brands, page-49

I don't mind the investment, buying shares on market doesn't benefit the company at all. If it needs money, as presumably it does for plans we don't know about then issuing new stock is the best way to do that.

What I freaking hate is the attached options. Where is the benefit to the company in that?

12 month scenario 1: SP is 20c - The investor takes up his options and makes a premium of 11c. AB1 could have issued new stock at 18c and made twice as much money or half as much dilution. AB1 may not even need the money raised from the option when the holder converts.

12 months scenario 2: SP is at 4c - The options lapse.

I'm calling this a bullsheet sweetheart deal for mates and until the company demonstrates why it needs this money I reckon retail holders are being given the finger by management.

I will be voting against the issue of options, but with the big boys t20 holding 50% of the vote they will simply look after each other.