Exactly the reason why I am intending to vote against the directors' options at this stage.
I might be more inclined to support these incentive options if the ex price was significantly higher (i.e. 10c+) in light of the company's potential and the significant dilutionary effect of the said options if exercised (nearly 5% on an undiluted basis of 1.7bn shares).
Considering the amount of problems we have had with previous management regarding free 'incentive' options, I would have expected more tact from the current board when putting forward such a proposal.
PDY Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
