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So as per the https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/w1j773w, does that mean a tiny dilution if adding 1,350,000 to an overall total of 364,863,873? Seems reasonable.
Thats not what he said. He said he looked at his families financial situation, and thats why he sold. He didn't roll anything over.
Options have expiring dates to be exercised or lost, but they are options to buy shares at a predetermined price, you don't have to sell them, you just have to take up the options or lose them.
As I said, I'm not a fan of this kind of activity, and the video reasoning wasn't great. But as long as the market saw it as a non issue then thats all that matters.
PBS..l'm not sure I fully understand the mechanics but is he just doing a roll over...they were due to expire so did he sell and buy back thus maintaining/ increasing his holding...
Malik the 570k did seem low to me. I have more than that myself ffs!
cheers and ATB
RC
Yep
fair point Malik, I missed 1.4m! PW holds 2.445m I believe.
(Comment above as response to Racingcylist)
presumably PW has benefit in kind when exercising options and he is "selling to cover" or is that not how it works?
He held quite a bit more than that.
Have a look at 31 Dec 2020 press release, to see how much he held.
If that’s the case, perfectly justifiable. If he sits on 1m shares he will make a mint anyway. He knows where this is all heading.
Obiwan my calcs are:
PW previously held 570k
Exercised 2m and sold 1,525,000.
Now holds 1,045,000.
Happy to be corrected!
RC
He exercised more options than shares sold.
So the net move is an increase in effective ownership.
He owns around 0.7% of the company, pre options.
So have I. Adds to LTH for me.
1) Decent guy.
2) Expects value increase perhaps prior to April 6th.
So he netted 500k shares which will be added to the c500k he currently holds?
he exercised 2,000,000 options but only sold just over 1.5m of the resulting shares!
Also, how many shares does PW continue to hold?
Can you please explain PW's increased net holdings in Argo?
Well done I say to the Directors giving away 5% to enviromental causes. Very few if any do. We have a fantastic team supporting us with Argo
Agreed Malik.
Amazing how quick the neigh sayers come out......its exhausting wading through all the rubbish they post. I wish there was somewhere the pro Argonauts could discuss the company.
GLA and keep on HODLing
Wall interview out just now. Brilliant company. Never seen management coming out straight after such move to clarify. Family related - and obviously they want to get paid. 5% of profits to charity.
https://m.youtube.com/watch?v=nt5b23uY2PA&feature=youtu.be
why should shareholders be the only ones allowed to make money, good luck PW & Co. you deserve it
I actually like the line noting the charitable donations
"Following settlement of the above share sale, Peter Wall and Ian MacLeod will make a donation equal to 5 per cent of the profit from their sale of shares to an environmental charity."
Repeating what I just posted, so the message doesn’t get diluted amongst the thousands of posts - as I think it’s important.
CEO Wall actually INCREASED his net shareholding in the company.
This is positive.
As to exercise, they deserve to be rewarded for the tremendous share p performance.I see no problem with this at all.