There have been 4 (Management/Staff)option to share conversions since the end of April.
30/04 3,678,146. by Ross Norgard with a letter 19/04 1,842,819 ?? 26/05 585,107 ?? 04/06 342,819 ??
These are not listed on the ASX, so can't be sold. The only way to sell them is to convert them to shares then sell. I'm not saying the shares have been sold, but why Tye up personal capital converting, unless you wanted to sell?? The Company has plenty of money (even before the issue), So there not helping the company out with cash injections. The only reason I can think of is for there personal gain (and don't get me wrong they have the right). But, this is the concerning part - Why now, do they think the S.P has risen as High as its going to short term or maybe even long term ?? The will probably get plenty of new options at 07/07 General meeting, I'd Vote yes. These are just discussion ideas.
P.S I notice someone posted the "Use of Funds" Table for the issue prospectus, $20.0mill for Rail - @ $4.0mill/k whats that buy you??
What do you guys think?? Great thread.
BRM Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
