Ann: VDM awarded $56 million of new works , page-8

Yes there is a dilution issue....I believe its 465 million options out there. However, they'd be exercised with the company in a fairly buoyant recovery...otherwise the price isn't going to get there to make the options worthwhile. Assuming the exercise is carried out over a period of months...I don't see a huge amount of damage here to the SP. And it'll provide substantial benefit to the company bottom line - assuming they use it wisely. Confidence is slowly returning....