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Flash212 … aka Lambo… Let’s not forget how badly wrong this guy has been, and how much he entirely deserves ridicule (especially after changing his username)… :)
There is a sentence which say " The Remuneration Committee will determine when these conditions have been met".
It doesn't say "when one of these conditions have been met", but "when these conditions have been met". That imply to me both the significant deal completed and after 3 years have been met.
Flash212
You are a dumb a..
"All Share Options are valid for 10 years from the date of issue."
Seems clear to me, as per the below. Share options can only be vested between 3 - 10 years and only after a significant deal has been agreed. Therefore, if a deal is done tomorrow, they'll have to wait until 3 years, but if they haven't done a deal in 3 years, they'll have to wait for a significant deal, but before 10 years.
The question will be, what is a significant deal? Either way, Phase 3 will have been confirmed, and hopefully we will be much higher than where we are now.
Yes, that must be right. I got there in the end! He does a brilliant deal tomorrow, still has to wait three years to get his options. No deal at three years, he has to wait until the deal is done to exercise the options.
The RNS looks clear to me.
A significant deal must be completed between now and the next 3 years AND only then after 3 years can the grant of share options be vested.
If no significant deal signed and completed within 3 years from now, the grant of share options cannot be vested after 3 years.
But that don't mean it won't be vested at all. They could do a significant deal in, let say 5 years time as long as a significant deal is done and only after 3 years from now, can the grant of share options can be vested. They got 10 years to do it in from now.
Plain simple to me.
I've been watching IMM since 2017, but never invested.
Now though,
I'm in.
Lambo has gone quiet. Hopefully no one listened to him and sold near the bottom… Just a thought - is Flash just Lambo using a different username… Same highly unusual need to grab attention by knocking a stock in which he appears to have little interest. I say unusual because most people have better things to do with their time :)
Frits
Good post.
When Tim is vack from conference give him a call to clarify- he happy to talk to us shareholders.
I believe 2024 will truly be imm years
Gla
The problem, Cauld, is that the English is not plain. As a mathematician, the word comparative word 'latter' to me represents an 'Or' clause - the options vest in which ever one comes last. Then, as has been pointed out, we get an 'and' clause, implying both criteria must be met for the options to vest. The language supports both interpretations.
Flash. It is NOT the case that there are no conditions attached to the exercise of these share options. One of the three conditions is that a commercial of significant value to the company has been achieved. The Remuneration Committee will be the judge of that.
You either do not understand plain English or you are a blatant deceiver,
Flash212 - it's YOU who needs to re-read the RNS.
It quite clearly states:
"All Share Options will vest at the latter of:
· When the Company has completed a new commercial deal of significant value; AND (my capitals)
· 3 years from the date of issue"
The word "and" means they wouldn't vest at the end of 3 years without a new commercial deal of significant value within that period.
Having said all this, the phrase "significant value" is very wishy-washy. Why not put an actual minimum value on it?
I also don't like the fact that "The Remuneration Committee will determine when these conditions have been met". Talk about marking your own homework.
I disagree with that, in pharma world it is common to have share options even at the Associate Director level.
Have to say it seems a bit steep to me. Surely it's the CEO's job to pursue and sign commercial deals. Bit like awarding a whopping bonus to a university lecturer who actually delivers some lectures.
Sleeping 😴 💤 giant comes to mind.
Completely different complete to 2.5 years ago in terms on reduction (by 75%) in overheads and Tim talks about one of the best portfolios.
Please listen re-listen 🎶
Meant award
Speechless ADWARD OF 8 MILLION
It's notable that Tim and consorts have put themselves on a par With all the other Warrant holders AT 2p...
After all these years of disappointments ,
Shareholders are once AGAIN the forgotten ones ( and the ones paying the bill)
It would only be a fair gesture to shareholders that the COMPANY issues warrants to existing shareholders,imo
But this is IMM on AIM !
Https://youtu.be/jR7I_0mkTM4?feature=shared
Must listen
The largest grant is Tim and he will achieve a gain of £1.6 million if the share price is at 22p. And he will be losing half in income tax and NI.
That is not huge if my investment grows by 1,000% from today.
It’s wholly reliant on delivery and that’s ok for me.
They strike a deal - more than happy for these share options to be exercised - and in 3 years time the shares should be worth Significantly more - happy days!
Well that is a HUGE incentive let's hope Tim and the scientists get off their @rses and deliver in quick time!
Tim McCarthy 8,000,000 share options (exercise price £0.02)
Tim Franklin 6,500,000 share options (exercise price £0.02)
Sebastien Goudreau 5,000,000 share options (exercise price £0.02)
In addition, 5,500,000 unapproved Share Options have been awarded to other employees/contractors with the same performance conditions.
Time and Performance Conditions:
All Share Options will vest at the latter of:
· When the Company has completed a new commercial deal of significant value; and
· 3 years from the date of issue
The Remuneration Committee will determine when these conditions have been met.
Very strong buy now