RE: Can it be true….11 Feb 2022 11:33
Trisor, I think you are missing the salient points, Ill will try and explain
Prior to yesterdays RNS 70% of Duffers options could not be exercised until SP had hit 2.5 or 4p. He has just changed this to 1p and removed all additional vesting and exercise conditions.
Prior to yesterday Duffers had to get the SP to average for 20 days 1.25, 2.5 and 4.0 by June 2022, June 2023 and Dec 2023 to exercise 90% of his options or lose them. He also had to hold them for a while prior to selling and profiting. This was a great plan for small shareholders because the CEO was IN and had to perform to profit from his share option plan.
At the stroke of a pen all that has gone, now Duffers has a free hit on over 100M options at 1p, if SP gets to 1.5p he can flip them and make £500K profit anytime for as long as he remains with the company.
This changes everything and that before you look at the cash bonuses and more options at 1p he and the COO have has just been granted.