and from the Q1 report we know that these are all still live - "During the three month period ended 31 March 2014 no share options expired. ..........................
As at the date of signing this MD&A [19 May 2014] there were 25,652,000 share options outstanding, all but 250,000 of which are exercisable, and 17,250,000 share warrants outstanding."
[Therefore they did not expire as might be expected from the table because the Option Agreement was changed in November and ratified at the AGM by the shareholders such that any options expiring in a closed period are held over until up to 10 days after the period ends.]
Today we were told 750,000 we about to expire - total of lines 1 & 2 in the table. Line 1 belong to the Management, and Line 2 to Jones (his golden hello).
So, IMO, the closed period, which has existed all year, ended when the Aibel RNS was published on Friday 4 July.
A further 100,000 options were also taken up, but we do not know which tranche they came from, but it was not for a Director, and only Lines 1,2,3,4 & 5 are in the money. Line 3 belong to Paradox Public Relations as their golden hello, and 4&5 to both BoD and Management.
Why they do not tell us at this time who took them or the price they were taken at (same thing!) is beyond me and we will have to wait until Q3 report to see the movement and income received.
BUT the good news is that they have now got the opportunity to award themselves these 850k again plus 10%! Plus 1.1 times Roger Ramshaw's take up, of course.
Somewhere around 4.5M is possible..........probably when they announce the ES update submission or FDP, IMHO.
850,000 options taken up. Although these would almost certainly give the holder instant profit any director sale would need to be announced via an RNS - therefore unlikely we will see any selling until after the FDP is approved when the board expect the share price to be much higher
Why would they buy shares? It's not a big enough buy to Aid the share price, they hold options which they can purchase after any price increase. They work for the company so they are putting all their eggs in the same basket.
May be it's the reason many of us buy shares -Greed the chance to make money.
Some would argue Andrew Fairclough, Financial Director, should hold more shares.
Could it be Harry Wilson, Non Executive Director, was awarded the recent option on the condition he bought shares on the open market. Even so he would still need the price to be higher, before it's worth purchasing these and the option shares.
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