Perhaps they know the share price will be higher soon. And with options being highly leveraged they stand to make a very hefty profit from the company. Share offering would be better - less exposure to highly leveraged losses, and less potential to cause a price ceiling. GXY is buying back, and i don't have a problem offering some of those shares back to directors/contractors as an incentive. The current resolutions 3 to 7 for the Nov 27 meeting are way too generous.
IO Price Drop, page-8
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