Not sure if it has been mentioned but one theory on the options...

Not sure if it has been mentioned but one theory on the options in this CR is that they where granted to the individual/company etc so as to give the investor a certain percentage of PEK without triggering a substantial holders notice.

This reasoning is based upon the investor not wanting their identity revealed at this stage. Why? perhaps it is such that if their identity was revealed that it would cause an SP increase. What is wrong with that I hear you say. Well, if there was a gentlemens agreement that post JORC or some time in the future when PEK chooses to take on a conerstone that this investor will come on board in a significant way and consequently doesnt want the SP to run on the back of their participation until a significant investment is made. Hence less cost to the investor.

All complete speculation but I have been trying to think why the options which hasnt been a feature in past CR. The only element is the 5 years, a long period before they expire and it is of little benifit to PEK for rasing additional funds in the near future. I would have thought that one year or so would be more appropriate but then again we just dont know what is going on behind closed doors and what stratagies are behind these decisions.

Anyway, just some thoughts on one possible reason for the inclusion of options in this CR.

Cheers

Retrac