On face value it seems generous when looking at how much...

On face value it seems generous when looking at how much directors could own on a diluted basis, then again junior companies live and die on management’s ability to sign, sell and fund their business plans efficiently in any market, imo companies with higher director ownership are better managed than companies with no significant shareholders (worth also checking the percentage of IPOs listed over the last two years that are trading at 100% or more premiums to the list price).


There is a host of junior company boards being paid more and worth less in capitalisation than PVD but require significantly more dilution over current and next year than the current PVD plan. The share scheme is also designed to lock management into longer term employment due to their exposure and complications to complete an exit strategy when they are significant holders without material company growth. This leverage is good for all shareholders.

Next potential deal is for Gabon lease, may change a few opinions.