ecsc, Biota acquiring shares and holding it in trust is a PROCESS. Instead of issuing new shares, Biota engaged in the questionable practice of buying shares from the market to meet the options to give to PC and his friends when they exercise their options.
In fact, shareholders should ask the question why Biota do not announce the price Biota acquired the shares from the market. It should be treated in the same manner as a shares buyback. The only difference is the shares are not cancelled but eventually find its way to PC and his friends.
The allocation price is the price at the time those free options were given to PC. Those options were suppose to have a performance hurdle tied to the Biota share price in the market.
An Appendix B is announced whenever free options are exercised to convert to shares. The 332,800 options exercised in the Appendix B are less than the number of options exercised announced Change in Director's Insterest announcement. Clearly the sums in the 2 announcements do not add up.
BTA Price at posting:
76.0¢ Sentiment: None Disclosure: Held
