vote no to director options..., page-13

new directors have diluted IDG by over 100% since coming on the board, whats there to be happy about?

07-09-2010 First dilution came via placement underwritten by the director, placement was not needed as IDG had around $12mil in the bank, placement done at .25 cents with options ex at .35 cents:

37,293,433 ordinary fully paid shares
18,646,716 options exercisable at $0.35 on or
before 31 October 2014


23-10-2009 Then came the directors options:

IDG OPTIONS
(i) 8,000,000 ESOP Options to Mr Pynes;
(ii) 8,000,000 ESOP Options to Mr Kestell;
(iii) 2,000,000 ESOP Options to Mr Hardie; and
(iv) 1,500,000 ESOP Options to Mr Fitzgerald

TKA OPTIONS
(i) 5,000,000 TG Options to Mr Pynes; and
(ii) 5,000,000 TG Options to Mr Kestell


24-05-2010 Now come the second wave of director options:

IDG OPTIONS
Peter Pynes 10,000,000 Director Options
Tim Kestell 10,000,000 Director Options
Paul Hardie 1,500,000 Director Options
Matthew Fitzgerald 1,000,000 Director Options


So within a year of coming onto the board directors have issued the following stock & options:

IDG SHARES: 37,293,433
IDG OPTIONS: 60,646,716

Tuskar Options: 10,000,000


Make up your own mind if you think this is right.

dyor...