RE: Feathering of nests20 Sep 2023 07:56
Jerryspaniel,
You are correct,
"A company is allowed to make a share option award in an open period as it cannot be made in an close period, but by reference to the closing price the day before award (the price reference is in a close period), this is a problem under investor guidelines and regulatory requirements."
That's very clear, you can't award options in a close period, but can the day after a close period closing price. If they say that's the case, then SDD is very disingenuous.
Now I know you're all waiting for my view on this strike price,lol. Well here it is.
I think the strike price of 11.9p is a thumb in the eye UK investors, imo it should be between 15-20p, above the first raise price that was discounted from 16p at the time. I also think his annual salary is grotesque, in view of the devastation of the the sp since he took over and no revenue yet.
But one thing keeps jumping out to me is this, I have a feeling that they have something that will get the sp to 11.9p very quickly and if this news is issued now then this option would have been set much higher.
I also believe that investor discontent around the ASX, sp @6p, no MRE has had a material impact on SDD thinking, but these option awards should have been made after the MRE upgrade.