director share options10 Jun 2022 10:30
I see the directors are now tossing out shares to themselves like sprinkles, some of which they get just by hanging around in the shell suits. And the ink is hardly even dry on the fund raise. In my opinion its an absolutely terrible sign of priorities and ethics when the first RNS after a "fall over the line" fundraise to save the company and day to day employees is one that announces mass distribution of free share options to the directors. To hell with concentrating on maximising the money received for the sale of CD4, lets ensure our own pockets are lined regardless.
Specifically, for Jag it was a case of buy 500K shares at 4p, and get nil cost options of 5.9M, yes that's right 5.9 MILLION shares.
In total 14M shares were just allocated. For comparison, the recent fundraise managed to find mugs for 5M shares. At least we are now clear why the directors invested such derisory amounts in the fundraise, why commit anything beyond the absolute minimum of your own money when you have a plan to gift yourselves millions of shares options.
I note nothing to say that this is the only issuance of such shares for this financial year.