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Definitely a good opportunity to top up now that the share price has dropped below 4p. As expected, it has been a quiet period for the company after the release of the feasibility study, but I think we can expect the newsflow to pick up again very soon. I can only see the share price rising from here with what is to come.
Indeed Uncle John. I view my investment here as long term but 5 years might be pushing it. If I see continued value to hold though, I could still be here. As you suggested £1+??
The options might well be for 5 years, in which case 7p, I trust is going to be a distant memory for PI's. Hopefully the SP is way out above that by then, £1???? DYOR
Hi Trev, the share price will be miles higher than even the 10p option price. That is why it is an incentive for the board to produce the goods. Ie get the project to construction and we’ll all be minted. The SP will be into double figures soon on news and increased NPV. Just need to wait on the next few RNS’s.
Assume they've got a certain amount of time in which to exercise them, so are incentivised to get the sp up before that ends.
Good to see. Most of it makes sense now as a decent incentive plan. However I am still not sure why 2 people have been granted options now at a price 50% higher than the share price?
At least common sense interpretation has prevailed. I was pleased to see the latest RNS confirming my analysis.
I ended up ringing both St Brides and Shard.
Think they had not got back to me as 'busy' reissuing RNS but I am sure they will now; LOL
Thank goodness for that!
I thought it seemed out of character.
Thank you anybody that mithered them, it might seem trivial to some but it was very important to me.
Corrective RNS just out, the option prices are in pounds not pence as originally stated that's a relief, not that I'm a fan of share options in any event. I firmly believe that directors should buy there own shares like the rest of us, and be paid bonuses in cash when objectives are reached, unfortunately the world thinks differently.
I wonder whether this is just one of those many traditional ways that the financial services industry describe things that make no initiative sense. I did a random search for grant of options and here's another example: https://www.investegate.co.uk/empyrean-energy-plc/rns/grant-of-options-and-pdmr-notification/201909181128058197M/. Note the phrase "issue incentive options in respect of 2,500,000 ordinary shares of 0.2 pence in the Company". Later in the RNS it says "The exercise price of the Options is £0.125 per Ordinary Share". So the 0.2p is not the exercise price, it's something else but my knowledge isn't deep enough to know.
The EML RNS doesn't state the exercise price, so I don't think GC is getting £250,000 worth of shares for next to nothing. I think the 0.05p might have something to do with the nominal price of the share and maybe it's possible to work out the exercise price from this, I'll look into. Of course it would have helped if EML has stated the exercise price as
Empyrean did.
I have telephoned St Brides Partners and await a return call.
When I went to school 0.1p and 0.10p were the same thing, except that the second one would come back with a red line through the second 0 and "Not necessary" written in the margin.
Either the sums in the RNS are parts of a penny, or the company in which we are invested doesn't know the difference between pennys and pounds, clarification is necessary, urgently.
"2,000,000 Options on the Grant Date at a price of 0.10p per ordinary share"
You wouldn't say 0.10p if you meant 1/10th of a penny. You'd say 0.1p...
Right? Well it's the straw I'm clutching to anyway.
No worries Luke.
"If this was pence why would Phil Cleggett have any interest in taking it up? He could buy at 4p on the market?"
Trev, good question, in such a scenario it would depend on the expiry date of the option. If the share price is 15p in 6 months time and he has the option, its a winner.
Mr McKenzie my intention was not to be rude so apologies (again - the first time ever on a BB) it read that way. It's my understanding that it the price quoted represents the nominal value rather than the share capital of the company.
Wow is this going to be another SXX
Or worse unbelievable
2,000,000 Options on the Grant Date at a price of 0.10p per ordinary share
If this was pence why would Phil Cleggett have any interest in taking it up? He could buy at 4p on the market?
If was pence how could the RNS be published so badly wrong. 0.05p would read to most people as a fraction of a pence, it should state £0.05 if that is the intention.
Luke this line is copied from the RNS
"
1,000,000 Options on the first anniversary of the Grant Date at a price of 0.05p per ordinary share"
Please explain to me how that is 5p when it says. 0.05p
I think the RNS is wrong, and the option prices are 5p,7p and 10p. It would be a nonsense having some options at .5p. some at .7p and some at .1.p. Options are designed to be an incentive. Not a virtual outright gift. Agree EML should issue a clarificatory RNS to make people happy
painful
https://www.thestudentroom.co.uk/showthread.php?t=2911085
Luke the option is not at 5p it's at. 05p.
That's 100 times less.
I hope so. It's makes a huge difference to how I feel about the company. If it is pence then I have no trouble with a small give away to Graham Clarke and a genuine incentive for the rest of the team (and hopefully decent profit once the share price is much higher due to their continued excellent work)
What concerns me is the options granted on the 1st August grant date at 0.06p and 0.10p if that was pence they would never have been taken up now at a price higher than 4p.
Sorry Slurms and Gents but the below is incorrect. An option is exactly that - it's an option. It gives the Director the option to buy shares at a set price on a set date. E.g. GC has the option to purchase 1mil shares in a year's time at 5p. If the share price at that point is 10p then great, he wins and we win. Who knows, he may not even sell them at that point if he's confident things are going well and either way there will be an RNS to notify the market. The point is that they don't get given the shares for free and get to sell them at market price!
This is the point i was making - the first set of options at 0.001P are a gift - unless the company folds, they will be valuable options but aren't exactly huge at c.20k after year 1.
The other options involve the Directors increasing the share price and therefore creating shareholder value in order to benefit.
They aren't the most stretching option ever granted let's be honest but it's not the doomsday / dilution / excessive pocket lining being suggested.
Previously EML granted directors options in June 2018 in conjuction of the re-admission of EML to the LSE.
At that time all the options were granted with an exercise price of 3p.
"On 4 June 2018 and in conjunction with the business combination, the Placing and Re-Admission of theCompany to the London Stock Exchange, the Company granted the following share options all with an exercise price of 3 penceand a maximum life of five years from the date they were issued. The options vest in four equal portions on the date of grant, andon the 6, 12 and 18 month anniversaries."
This seems to support the notion that the ones issued today will be largely (except for some allocated to GC) have an exercise price of 5p, 6p , 7p and 10p.
He says hopefully. :-)