more information, page-5

Gozz,

I can think of 3 scenarios to explain why directors have not been "pumping the news" before now:

1. there is no good news
2. they are waiting so that the news will have the most impact to encourage option holders to exercise. That would mean announcements over the next few days. This would indicate that the company really need the funds from oppies
3. they have bank funding arranged and do not care about the options - might even prefer that the options are not exercised so that dilution is avoided. If this is the case expect no news over next 2 weeks AND for TRF to exercise its options on 30 March without publicity

Personally, I do not think 1 is the explanation. The next couple of days will indicate whether it is 2. Personally, I do not think sophs and instos would have bought in at 85 without having a pretty clear picture of where things are going so I think exercising optons at 75 is a no-brainer (but that is easy for me to say because I sold my oppies a long time ago!).
Very frustrating and challenging this one. If we were all as disciplined as BBB we would have sold out ages ago.