I haven't had the time to read the explanatory statement until now, and only did because of this comment. I am not at all fussed by it to be honest. The issue price and number of options seems to be very fair and reasonable...which is so rare in the micro/small cap space. More often than not the board pillage options (just have a look at a stock like HWH). Based on the calculations, if the share price remains at $0.4, they're looking at an exercise price of about $0.58.
For those playing along at home the relevant information is located at page 17/18 - https://hotcopper.com.au/threads/ann-notice-of-annual-general-meeting-proxy-form.6337670/
Long story short, I completely agree with you @Fosss. I cannot see any price sensitive announcements / drill results prior to the AGM. Happy to be proved wrong though.
Again, I am not fazed by this and am completely behind the board/company. For the options to even be in the money the share price has to bump circa 50% from current levels. If that doesn't give you a good feeling, I don't know what will.
Relevant extract below.
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