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blackgold00 Licence def coming soon but expectations need to be met now, it good to see nibbling to buy as it was looking grim at the start of trading, like I said it cannot be people selling due to the Licence not arriving yet so as I suspect money being readied for Solo share funding and if I`m correct then once the news is out another week after that and this will just sit at a certain point hopefully !!!!
well, at lest the options are now looking more like an incentive for those directors : )
I group the two together crusty. A ridiculous transaction by BH. Thank God he is long gone.
The options were minimal by comparison with the many millions that he got for the AEX purchase of Canyon. Not sure why fgey wwere not simply bundled together...? Incentivisation perhaps? I do mot recollect the exercise price nor the market price at the time to be honest....
Well Jays were "freebies" as far as I can work out but let's leave it at that anyway.
I agree with annearlier poster, that options should be used as an incentive, or as part of a performance related pay scheme. "Freebies" cannot be justified in any event dunder...
AEX should get that performance sheme in place asap unfortunately the horse has already bolted - and this recent incident is not the first example.
Hi Dunder I don't think you should be questioning Crusty about Jay 'Back to back drills', he's worse that the current BOD! Fully funded back to back drills, first drill hits huge gas, then.....................second drill doesn't happen. Instead we spent all our funds on directors pay and io report (that was worthwhile), then when we need money for the second drill we have to sell 2/3rds of our main asset to the Zubairs. When difficult questions may be asked ?..................... he rides off into the sunset with his 'rewards'. I believe he may be writing 'How to destroy value in a company for Dummies'
crusty what do you think if all the options Jay received when he arrived at aex then? These were at even lower price??!! All imho and dyor of course.
Quite right Crusty. All the BOD have done recently is to write a RNS that has upset our long time partners at Solo. Having said that, the Zubairs are driving this now and the BOD have probably all kicked back in their LaZboys looking forward to enjoying the ride.
Well that would be good GL but it doesn't in any sense justify the bloody award....
As I said earlier I fully expect resolution of the outstanding License very soon and this may well be an indication of that but it also indicates the disdain and contempt with which these new Directors view their shareholders.
An sizeable options award was announced a week before rig contract signed for drilling N-2 RNS back in September 2016
I hope a week hence we should hear something similar.
GL
I do not mind any Director awarding themselves additional shares based on a performance related scheme BUT these are just "give-aways"..... At the AGM in 2018 I complained bitterly at a similar award and the pay rises handed out at the time bearing in mind the awful sp performance and management record at that point; particularly at the lack of a "performance related pay scheme" - at which point we were told that one would be put in place by the end of the year. So much for that assertion then eh?
This is an award for a total lack of performance; share a give aways at bargain basement prices.... the sp is where it is because of their appalling performance and yet they are using this sp trough as an opportunity!! An opportunity to load up on cheap shares without having to pay a bean for them. And if it all fails it still doesn't cost them anything....
Cynical, "ball's out" opportunism and it is a sneering, condescending insult to LTH's. But they are hoping that it will all be "water under the bridge" by the next AGM.
Crusty, Sadly shareholders have the ability to stop this allocation of shares, you may note that there has in the past been a resolution that allows the BOD to issue shares as they see fit, I always vote against this and will continue to do so. They should not be able to award themselves such warrants without shareholder approval.
just a little bit of tongue and cheek matherdj , but the price is where it is compared to the last options of 6 months ago, whether the options are right or wrong, they might well be seen as a sign that our greedy directors are now expecting a rise in the share price,
These options are supposed to incentivise. Are you saying that somehow those issued at 0.86 had any impact and getting us to 1.3 through the efforts of the BoD? They should be given options that can only be exercised at the option price once a target is met and for me that should be 8p minimum. They are taking the p!ss at the moment.
the options granted back in June @ 0.86 are now looking like a great profit for them, so hopefully they'll make the same profit on the ones now granted @ 1.40p in the same amount of time. nothing like a bit of incentive to get the job done. lol
https://www.lse.co.uk/rns/AEX/aminex-plc-director-pdmr-shareholding-24w2u9vgc8aq2m5.html
Well done Crusty! I am looking forward to the next agm! I hope alot of us here can vent our frustration.. Most important is that we have good numbers turn up!
These options are normally given a price at which they can be taken to give an incentive. I think the last lot were set to 8.5p but I may be out by a penny.
Crusty Pete, you are 100% correct, the awarding of those share options is an utter disgrace, the BOD should hang their heads in shame.
Wow.....that is the angriest post i have ever seen from you crusty pete.
I am a VERY LONG term holder here with a significant holding that does not post on bb much.
My feelings are the same as yours , I have poured hard earned money into this over the years,only to be told that the BOD have a risk free ride to make money........if only!!
They are doing very nicely out of it, again! Only consolation is that even at 25%, the discovery and appraisal and pending licence the full field development is such a large trough.
Reality finally coming home to roost.
Great news indeed!
Pity they didn’t give themselves 96m options and then we’d be on track for 14p.
Yes Robsroom but that means they get free "upside" with zero risk and for what?! They will not exercise these options until they are significantly above the current price, they will exercise and immediately sell into the market or to an institution and then sell them to get a risk free profit.... Wouldn't we all like that? What the feck have they done to deserve that? I have been a shareholder for 10 years and others for longer; the BoD get paid a bloody good salary for what they do and to give, yes, give them, shares at the "bottom" just as they are about to rise really does take the fecking **** out of long term shareholders some of whom have spent hard earned money over many years to accumulate a shareholding far, far less than they are each being awarded - and the point is FOR FECKING WHAT???!! They have been seen to deliver NOTHING of their own creation.....
It is a bloody slap in the face to LTH and is smacks of greed and opportunism. How is that conceivably in "shareholders" interests - zero risk Christmas presents. I cannot bloody wait for the next AGM.... PIGS at the trough.
The timing may well be enlightening but the delivery is nothing but a cynical insult; timed now simply because they believe that if the SP rises as a result of a License Extension, Farm Out and Spud date that they have individually and collectively done f**k all to influence all LTH will swallow it.
If there were an AGM tomorrow and they were standing in front of me I would spit on them. They are taking money out of MY pocket for delivering NOTHING!
If I understand the options correctly it allows the BOD to buy shares at the price the options where issues (1.4p I think). The only logic for that is if you think the SP is going to be significantly higher at some point in the future. Obviously you can’t print options like they are going out of fashion as you would lose credo with the board, so do it when you think the timing is right and you have confidence they will be worth more at some future point. Very good news in my opinion, Licence drop early in the new year and drilling in March, onwards and upwards to 7p!