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So, what am I missing here?
The CEO has been granted options over ten million shares whereby he can take £900,000 of HIS OWN MONEY to exercise at 9p, vesting over three years from 2025. Why would he do that? Now, before y’all start hitting the keyboard with your responses, take a minute. Is there genuinely something I am missing here (that is a sincere question - not rhetorical)? Gambling £900,000 of his own money. On OBD. Again, why would he do that? Breath. Think. Breathe a little more. The CEO having a glide-path to making serious money if he can get the share price up well past 9p. What is wrong with that?
Because he doesn't have to spend a penny of his own money exercising warrants . If he exercises say 1million at 9p and the shares are valued at say 18p he can sell half to cover the warrant costs and gets the rest for nothing. No risk, no outlay required, simple and easy money. You can adjust accordingly for lower or higher potential prices .
Think we need someone with a bit of legal prowess here, so we understand it a little better for coming to assumptions of what it entails.
Who is to say wombat isn't right?
Or are we being raided?
It's beyong my wheelhouse I'm afraid, it's seem incentives based, but dubious at best.
But I'll.hold for a bump in price for sure till.i know more about the legalities of it
But first I'll contact Samsung, because last time I checked beyong isn't a word.
So why flipping replace it with it!!
@Newuncle. I will take your 18p and raise you to 27p or even to 36p or, or. What is your point? That Birrows will sell OBD shares to cover the cost of the options? OK. So if he can get the price to 50p then good for him and fkaming good for you, me and anyone else here who is under water
I shall leave you to reflect in your positivity here. All is great in the world of obd warrants and great news. Enjoy
Hi All
Jesus - alot of posts for a friday night.
My Take.
Its does seem a big liberty to take out 9p Options after the uck fup of a placing @9p, however at least its at 9p - seen AIM CEOs do it at 0p , so this has been mutually agreed with largerSH imo .
I get the point of snout and trough and fully agree, but does it make me want to run for the hills? ..eerrr not really.
Firstly if, OBD never reaches 9p it might as well be a billion shares in the option, never get used anyway
Then My spidy senses think.
Why Now
future Buyout / merger - all options irrspective of date would be settled as part of any buyout, the £1mil would be needed for 1 second
Exit Plan - First time JB over emphasized his age , Partners etc
Progress - everything now on the table - I think things are now moving (others may not) but if they were now would be the time.
Its a conudrum - Have seen the senario of big options followed by a buyout 6 months later - "Ohh that was why" !! but also seen them go to nothing, never used.
For JB at worst its a risk free punt @9p - no need to buy, but the option to do so when its profitable .. Better to run an AIM thanF invest in one TBH.. but doesnt normally equate to bad news , worst case for SH if they are exersized, we are diuted - proably at a significant profit from the current SP, or the options eventually expire (and JB grants himself new ones)
One thing we can be sure of is that its in JB's self interest
A decent review
I think we can all agree we know where we stand, 9p for me would be good 👍
If its starts making progress next week I could potentially add 10% get closer to that from 12p, and if by end of year it picks up, I could well turn it around and invest in a company I trust in its management with my investment in tact.
I could do the whole coming on complaining about who is to blame, but I don't think like that, I chart my path out of risk and have patience to put a plan together once I see the picture in front of me .
It's been a long what's it now, 8 months? 9 maybe.
Now I know where I stand, and a strategy on place this goes titttsss up
@Newuncle. I put zero value on the kind of condescending response you made to me. If that is, truly, the best you can do, perhaps not commenting would be a better course of action. It adds noting to the discussion.
Thewombat,
Sorry about that....of course you are right and I wish you well here.