Rights cancelled yesterday = same number issued to Tonderai on...

Rights cancelled yesterday = same number issued to Tonderai on 10 January - see page 4 of announcement here - so easy to link. And yes, safe to assume rights likely to be issued elsewhere, anywhere up to approved limit. Rights issued on 10 January were part of a tranche of 40M rights issued at the time. Individually each of these rights grants is relatively minor/immaterial (particularly with not all vesting) but collectively they can over time be quite substantial together with cash rem for a company of this nature and size and especially when issued around what is a historically low share price. IMO it would be helpful for directors to ensure more transparent disclosure of conditions for non-CEO senior management when making performance grants and when disclosing in periodic reporting.

Personally I would also have preferred to see options being issued to KMP on similar terms to those previously issued to shareholders. That would have communicated (to me at least) a much clearer alignment between management and shareholders with a short-term focus on correcting a flailing share price to improve the balance sheet, reduce financial risk, stop the trend of extremely costly downrounds and warrant repricings, and rebuild market and consumer confidence in a tough macro environment. A stronger balance sheet will go a long way towards giving consumers (families and schools) greater confidence in their dealings with the company, have a positive flow-on effect to current and prospective personnel, and give the company far greater capacity to compete and scale.

In any event, my post related more to the earlier comments about the potential for debt repayment, exercise of options and catalysts to get us there. What are the prospects of a share price climb to 6c and a notional EV of $40M over the next 8 months? We'll get some further insight over the coming days into how things are progressing.