No reason given as to why these options have been cancelled 7 months BEFORE expiry !!?? 202,500,000 options in total which includes 15,000,000 'Broker Options'
They left a blank box to provide any other information on p4 (Any other information the entity wishes to provide about the +securities the subject of this notification)
Expiry date was to be 31 Jan 2022....
Then if you read to the bottom of the Ann, we see there are still a huge quantity of options remaining which have the SAME EXPIRY DATE CGBAO : OPTION EXPIRING 31-JAN-2022 EX 1.2C 751,189,241
It begs a question of WHY these alone (202M) were cancelled and not the rest ? Has someone left the company to whom they were awarded ? The remaining uncancelled options - who can still take these up ? Is there any chance whatsoever that the s/p will surpass 1.2c by 31 Jan 2022 to make it worth their while paying out over $9,000,000 to exercise ??
@Neil1959 - I'd really appreciate it if you could please have a look at the rest of the options (on the last page) and post your own comment on them ? I'll try to dig out info on them such as what 'performance target' has to be met to award the 50m options.
Then there are the +568M oppies which are Restricted - what conditions need to be met for that restriction to be lifted ? They are stated to be 'Fully Paid' and represent almost 10% of the shares on issue but I don't know if this quantity is included in the 'total number of securities on issue' which is 5,139,255,284.
It's time to open the can of worms and see what slippery things emerge (imo)
I've changed my sentiment to None as I've as much idea as anyone else as to what's going on behind the scenes (or 'screens') and the company seem to be having difficulties informing the market at to the current state of affairs. Have a good weekend all Cheers, AE
CGB Price at posting:
0.6¢ Sentiment: None Disclosure: Held
