Someone asked the question....she will still have to pay 7c to convert the options.....i believe the 20m options will just become 20m shares once they reach 7c at no cost to her and possibly $1.4m windall to her.
PARA 1:the Options will be issued for nil cash consideration as they are being issued to Ms C M Norman (or her nominee)
At 3.8c now that price could become 6.0
It says they are payable in cash, perhaps some escrow would be nice, to me that reads she can cash in the shares, take the money and resign?
PARA 2: the exercise price for each Option will be 150% of the volume weighted average market price of the Company’s ordinary shares during the 5 days prior to and including the date of the Annual General Meeting (being 31 May 2012), rounded up to the nearest half cent, and will be payable in cash. The actual exercise price of the Options will be announced once known, following the date of the Annual General Meeting.
On the 2/9/2011 CN had 500,000 performance rights vested and converted to shares (FLOW) and sold to a family member of a director on the 14/9/11. Keeping in mind FLOW shares were about $1.00 to $1.50 in the last three trades.
This left her with 13,465 FLOW shares which were converted 21/9/11 to FAR @ 42.66 giving her 574416 FAR shares.
As the top honcho, she will need to show dedication to FAR by keeping her newly owned 20m shares surely, as for holding 574k shares in FAR would put her close to a unmarkable parcel(tongue in cheek).
There is a time to take bonusus, but not now....as others have said, you need to earn them and the shareholders trust. CN coming from near on 1.5 failed businesses and a AGM where 5 of the 11 pages are about her options.....it doesn`t come across too well i feel.
Also this should of been said prior to the SPP, not shortly after.
Anyway i have said it all now and it is unlikely to change the outcome.
- Forums
- ASX - By Stock
- FAR
- resolution 6
resolution 6, page-17
-
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FAR (ASX) to my watchlist
|
|||||
Last
47.0¢ |
Change
0.010(2.17%) |
Mkt cap ! $43.43M |
Open | High | Low | Value | Volume |
45.0¢ | 47.5¢ | 45.0¢ | $74.80K | 161.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 100 | 46.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
47.5¢ | 26333 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 96562 | 0.455 |
3 | 82855 | 0.450 |
1 | 50000 | 0.445 |
1 | 50000 | 0.440 |
1 | 50000 | 0.425 |
Price($) | Vol. | No. |
---|---|---|
0.475 | 26333 | 2 |
0.500 | 10000 | 1 |
0.510 | 220895 | 4 |
0.515 | 103300 | 2 |
0.520 | 421965 | 4 |
Last trade - 15.58pm 12/09/2024 (20 minute delay) ? |
Featured News
FAR (ASX) Chart |