Incorrect, performance options are on top of the options while staying outside the 15% cap. If they were a replacement and had milestones attached to them there wouldn't be such uproar. Even better the recipients have to pay for them (as you would options) as we shareholders do. Best case is options instead of performance rights with agreed milestones. This makes milestones reasonable and provides the company with cash upon exercise, not just freebies.
Year closes at 50c exactly, page-11
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