Hilux45.
Mr Briggs currently holds the following options.
Tranche 1
5 million options with an expiry date of 3/11/2020 and an exercise price of $0.090.
Tranche 2
3 million options with an expiry date of 23/8/2021 and an exercise price of $0.189.
Tranche 3
3 million options with an expiry date of 23/8/2022 and an exercise price of $0.122.
New proposal
15 million options that are subject to some short and long term incentives SET BY THE BOARD with NIL exercise price and expiring 1/7/2030.
If Resolution 6 & 7 are approved (which will happen imo) all options mentioned above will automatically vest upon a "change in control" occuring in respect of the Company as defined in Resolution 5.
My thoughts are that Tranches 1,2 &3 should be allowed to run their course before any new options are granted.
DYOR.
Jim.
Resolution 7, page-3
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