I haven't visited this site for some time & one of the post mentioned PL had only a small holding, which is not quite accurate. If this were true then we'd be more concerned as he would have less to gain because he wouldn't have much skin in the deal apart from his job & a few shares, namely 665,000 he owns directly, which isn't a huge amount for a Director. What isn't so commonly known is his controlling interest elsewhere. In 2010 PL founded Komodo Capital Pty, which is a corporate advisory and venture capital firm and he is the Managing Director. In April this last year, in the offer to the SH of the take up of the options, Komodo Capital Pty Ltd, used $850,000 of its money to take up the issue shortfall. Eventually, to exercise those options, his company has to come up with another $4.25M! PL would have to be fairly certain of the outcome to take this position. He, like any of us would want a decent return on their capital. Breaking it down. 2c an option with a strike price of 10c, means to produce a profit it has to go north of 12c. $850k is not exactly pocket change & leaving yourself exposed to coming up with another $4.25M, you would want a decent return for your $ and would be confident of it. From what I can see, PL has plenty of skin in the deal, he has a legal background and we're sitting on a world class asset, he knows it too. It should be a great result because we deserve it but we'll probably just get a good result, at least we'll north of 12c. Let's hope it's Soon.
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