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BGS 54.5¢

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  1. The Guatemalan

    353 Posts.
    In response to Haplo’s post @ 13.46pm on 25th March - per the Thread : “Birimian top two resign” -


    - asking the question about whether WW & HB could sell their shares "unrestrictively" from now on –
    IMO they can, as their holdings do not appear to have any documented selling restriction placed on them –
    such as Escrow - and as such can be freely sold by them like any other shareholder.  

    Which leads me to start this new Thread – instead of seeing many posters’ viewpoints being expressed – about the present state of the SP - on various other Threads in recent months.

    Posters are reminded that both WW & HB still have total control over their entire holdings of Unlisted Options that they can choose to exercise @ 10.4c – whenever they wish, AFTER each of ALL 3 of the Milestones’ dates have been reached –as per the same T & C of their Performance Rights that were issued to them back in June  2016.

    As of now 2 of those Milestones have been reached, so they are respectively entitled to now exercise their Class A & B Options (both exercisable @ 10.4c).
    When Milestone 3 is reached i.e. on the date the Pre-feasibility-Study (PFS) is completed & published – they will then be entitled to exercise their Class C Options  (also exercisable @ 10.4c)
    UNLIKE their Perf. Rights of this Class, which the T & C of issue state they lose if they no longer are “Eligible Participants” at that Milestone 3 date!

    WW has (of 2,765,000) 1,575,000 such Options he can exercise right now, @ a total cost of $163,800.
    He may choose to sell some of his shares to raise these funds. At 28c/share = 585,000 shares.

    HB  likewise has (of 1,050,000) 700,000 such Options he can exercise right now, @ a total cost of $72,800.
    If he too chooses to sell some of his shares to raise these funds – @ 28c/share = 260,000 shares.

    So, the combined total of these “possible” sales = 845,000 shares.
    I realise this is not a significant number – for a day’s turnover in BGS, but considering that some recent days’ turnover has been less than this/day – then when these 2 ex-Directors do start selling - for the purpose of raising funds to exercise their Options as above - that process may tend to depress the SP for a relatively short time.

    And again, for the reason that WW & HB lose no entitlement to exercising these Options at any time after the corresponding Milestones have been reached, is why BN has included – in the Final Directors Interest Notice issued last Friday – the respective totals of the Options when originally issued to WW & HB – respectively being 2,765,000  for WW, and 1,050,000 for HB – as stated above.    GT.

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