spotlight on mae, 30 june 2009, page-18

Good post sscw42

As I have posted before, these directors have never put 1 cent of their own money into Marion, I can't see them doing so now, unless of course they know of a firm offer around the corner. For that reason alone, I can't see them exercising the options.

But you raise some very good points, even if they wanted to exercise the options, it would be very difficult & costly for them to finance it. Considering the above, I can't see them mortgaging their houses to finance the options.

mknop raises some good points about insider trading. Although I can't see any problem exercising options they were given years ago, how would they go getting new options issued at a significant discount to the price GS are seeking? Any lawyers amongst us to offer an opinion?

In any case we should know hopefully Wednesday. As sscw42 posted, it is not the end of the world if they are not exercised, but it will not be a good sign to the shareholders. On the other hand it will be very positive if they are exercised, and should put a 30c floor on the sp.

What will the holders of the other 15m odd options do. I'm not sure who holds them all, but the below 3 would have a fair swag of them
Other Management
Larry Keller –Vice President Engineering
Doug Endsley –Vice President Operations
Keri Clarke – Vice President Land

Also JCs daughter Rhiannon Evans has 600k