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The difference between GGP and say UKOG is like night and day. SS at UKOG takes over £600,000 in salary yet does not own one share and has diluted to the extent they have over 8billion shares in issue. The oil extracted so far just about covers his salary.
Glad to be of help. It was this piece of analysis that led me to the conclusion that the options exercises by GH and CB were very bullish signs.
12.32 Jerry - great piece of work; it saved us all a lot of time trawling back through the RNS's
There are negative posters on all the boards here. Some have a real bee in their bonnets about directors and are clearly nuts and some have a point. The trick is to work out the ones with a hidden agenda and the ones with a real point.
Now who should us lowly punters listen to in this ‘debate’?
Beetham aside, Jerry Spaniel is probably the largest PI holder we have - as far as I know that has not changed much so his money ( and interests) are clearly in the positive camp.
I don’t remember Hydro’s exact holding from the poll a few weeks back, but I do remember it was significant. Add to that the amount of research he does (and shares) and it’s clear to see he is also extremely positive.
In the other corner we have the weekend warriors Pedro FB and Dogmess who continually spout negative slants - Pedro is particularly amusing in his late night rants when he’s clearly had one shandy too many!
Make your own mind up, but I know who I’m taking notice of!
GLA
Hydro,
As at 30 June 2019
CB had:
17.5m at 0.7p expiring 16/2/21 – he exercised these on 16/6/20
14m at 1.4p expiring 6/9/22 – he exercised these on 2/7/20
14m at 2p expiring 6/9/22
And was awarded 9m at 2.5p and 9m at 3p on 26/9/19
So he has 32m left.
GH had:
28m at 0.28p expiring 18/7/20 – he exercised these on 26/9/19
17.5m at 0.7p expiring 16/2/21 – he exercised these on 19/5/20
14m at 1.4p expiring 6/9/22 – he exercised these on 16/6/20
14m at 2p expiring 6/9/22
And was awarded 9m at 2.5p and 9m at 3p on 26/9/19
So he has 32m left
In addition to these two, there were the following options outstanding at 30/6/19
A Borrelli 51.5m
G Cryan 11m
B Wasse 12m
C Latcham 10m
M Sawyer 10m
On 26/9/19 there were new options issued to:
C Latcham 3m
M Sawyer 6m
Others 19m
On 8/1/20 there were new options issued to
J Janik
5m at 2.5p
5m at 3p
Furthermore on 22/5/20 B Wasse exercised 6m at 1.40.
So if we add up what this suggests is still unexercised it amounts to 190.5m. this tallies with the GGP website once CBs 14m is taken off for Weds.
Dogstar, you don’t know what you are talking about. Tell me a FTSE 100 ceo that pays himself £160,000 a year?
You will be going the way of fullboots unless you say something factual...
Hi hydro, no I didn’t post anything as the board was having one of it’s useless days. But anything you would like to know re outstanding options I can let you have. Also I don’t recall seeing the August options being there either.
hydro - Top stuff. All looking good. Well managed dilution (inevitable in a junior explorer, indeed almost part of the corporate DNA for these small, speculative explorers which GGP once was, no longer) for an accretive purpose rather than 'keeping the lights on'..thks
Further, on each occasion both CB and GH have upped their shareholdings (rather than 'dump' shares to market). That smacks of 100% confidence. Further , some large sells will follow in the run up to 18 July. But IMHO, given we have a major strategic buyer at 12p, that's happy to hoover up spare BOD option shares at 12p, it would appear to be nothing of concern. The BOD have prudendtly drip fed these shares to the market in recent months. It is of note that a lot of GGP options and warrants exist (which in total equates just over c12% dilution overall taking us from 3.7 to 4.2 bn shares). But remember, this is proving to be a good way to run the company.. CB and GH are continually increasing their holding. After 12 months of nothing (in 2018/19...) the share price has finally risen sharply to reflect the assets and they have been rewarded accordingly. Rather than going to market and raising capital, or having excessive pay packets that bleed cash irrespective of BOD performance. This is a win win situation. They are remunerated for outstanding performance, and share price appreciation. That suits me.
Hydrogen
These guys are better at rewarding themselves than ftse100 directors
Hydrogen,
Hydro, all the July 2020 options have already been exercised. So there is no reason why any shares will be sold that are linked to these options. That’s not to say that there might be other longer dated options that could be exercised and some shares sold, but it’s won’t be related to the July 2020 options.
Last week I did a complete analysis of all options and warrants and share sales by directors. It tallies with the ggp website. Obviously the annual report is quite out of date now.
@schlemiel. I don't know. Hydrogen I'd say is best placed to answer this. I think there's a chance he's filtered me so maybe you wish to direct the question to him.
Hope-gold
Interesting. How will these warrants be dealt with?
@Hydrogen
On the 30th June 17:55 you posted this link regarding warrants that had to be sold before the 18th July 2020 by Gervaise and G Cryan.
I see that M McNeilly has circa 211 million warrants @0.4p that expire 10th August 2020. If so it's just the board exercising their rights. Is possible this what FB IS referring to?
https://www.miningcapital.com/LON:GGP/Greatland-Gold-PLC/rns/179841