1. Most Discussed
  2. Gainers & Losers
BGS 22.5¢

Current share price

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

    https://hotcopper.com.au/posts/23621880/single

    - 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.

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top