Agree with your sentiment upto a point. Certainly some gilding of the lily in respect of the SI placement being 11% under the VWAP but if the VWAP had been based say over a somewhat longer period, before the price manipulation downwards, that discount would be much more than 11%. Anyway, whats done is done, but certainly not forgotten. The issue now is the BOD getting the benefit of this same low SI price. I would much prefer the BOD were allocated options say with a 10 - 12c expiry, a somewhat more reasonable proposition I would have thought.
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